(a) All corporations, companies and associations not incorporated under the laws of the State, which are engaged in affecting fire insurance in the City, shall annually pay to the City Treasurer a sum equal to two percent of the gross receipts received by their respective corporations, companies and associations for insurance which is affected in the City.
(b) Each and every corporation, company or association referred to in subsection (a) hereof shall, not later than July 15 of each and every year, render to the City Clerk a full, true and just account, verified under oath, of all the premiums which, during the year ending on July 1, have been received for any fire insurance which is affected or agreed to be affected in the City.
A person who is acting for any such corporation, company or association in the City, as agent or otherwise, for and on behalf of such corporation, company or association, shall make such report, under oath, on or before July 15 in each and every year, showing all premiums that are received by him or her, as aforesaid, or any person for him or her, on behalf of such corporation, company or association, and he or she shall pay to the City Treasurer, at the time of rendering such report to the City Clerk, a sum equal to two percent of the gross receipts for which such corporations, companies or associations are chargeable. If such report is not rendered on or before July 15 in each and every year or if such rates remain unpaid after such date, no such corporation, company or association so in default shall transact any business or affect any insurance in the City until such requisition is complied with. However, no such corporation, company or association shall be relieved from the payment of a risk that may be taken in violation hereof.
(Ord. 24. Passed 11-4-29.)