(A) Compliance with provisions.
(1) It shall be unlawful for any corporation, company or association, not incorporated under the laws of the state to engage in the village in effecting fire insurance or to transact any business of fire insurance in the village while in default by not fully complying with any of the requirements of this section and until the requirements shall have been fully complied with, but this provision shall not relieve any company, corporation or association from the payment of any risk that may be undertaken in violation of this section.
(2) No insurance agent in the village shall have any insurance business or dealings with any company, association or corporation, not incorporated under the laws of the state, which shall be in default for not reporting or making payments as hereinbefore provided, until it shall have complied with all requirements of this section.
(B) Fee. Any such corporation, company or association, not incorporated under the laws of the state, which is engaged in the village in effecting fire insurance shall pay the Village Clerk, for the maintenance, use and benefit of the Fire Department of the District, a sum of money equal in amount to 2% per annum of the gross receipts received as premiums upon fire insurance policies by any and all agents of the corporation, company or association during the year ending on July 1 of each year for any insurance effected or agreed to be effected on property located in the village by or with the corporation, company or association during the year.
(C) Report required; payment of fee. Every person acting in the village as agent for or on behalf of any such corporation, company or association shall, on or before July 15 of each and every year, render the Village Clerk a full, true and just account, verified by his or her oath, of all premiums upon fire insurance policies which, during the year ending July 1 preceding such report, shall have been received by him or her, or by some other person for him or her, in behalf of any such corporation, company or association on property located in the village. The agent shall, also, at the time of rendering the aforesaid report, pay to the Village Clerk the sum of money for which each company, corporation or association represented by him or her is chargeable, by virtue of the provisions of this section.
(D) Collection of fee. The sum of money for which such company, corporation or association is so chargeable may be recovered of it, or its agents or agent, by an action in the name of and for the use of the village as for money had and received. Nothing in this division (D) shall be held to exempt any person, corporation, company or association from indictment and conviction under the provisions of an act entitled “An Act to Enable Cities, Towns, Villages and Fire Protection Districts, Organized under Any General or Special Law to Levy and Collect a Tax or License Fee from Foreign Fire Insurance Companies for the Benefit of Organized Fire Departments”, in force 7-1-1895, as amended.
(Prior Code, § 3-2-4) Penalty, see § 111.99
Statutory reference:
Foreign fire insurance company fees, see ILCS Ch. 65, Act 5, §§ 1-10-1 et seq.