If such account be not rendered on or before the day herein designated for the purpose, or if the above mentioned rates for the said tax or license fee shall remain unpaid after that day, it shall be unlawful for any such corporation, company or association to transact any business of fire insurance in the City until the requirements hereof have been fully complied with. Nevertheless, this provision shall in no way affect the validity of any risk that may be taken in violation hereof between such corporation, company or association, and the person so insured.
If any such corporation, company or association fails to render the account or report herein designated by the day required by this chapter, or if the above mentioned rates as a tax or license fee shall remain unpaid after the day designated, being July 15, every such corporation, company or association shall forfeit and pay to the City the sum of two hundred dollars ($200.00) upon conviction for each and every offense, and in addition to said penalty the City shall recover in an action in its name for its use against such corporation, company or association so failing to make such report, or pay such license fee or tax, the full amount of the said license fee, which would be due under the provisions hereof. (Ord. 37, 3-9-1896)