(A) Levied. All foreign fire insurance companies doing business in the city shall be taxed or licensed.
(B) Amount; when due and payable. All corporations, companies and associations not incorporated under the laws of this state and which are engaged in the city in effecting and soliciting fire insurance, shall pay to the City Treasurer on the fifteenth day of July annually, a sum equal to 2% of the gross receipts of premiums received by such corporation, company or association, or their agency or agents for business transacted for fire insurance within the city for the year ending July first preceding said date. The sum above-named shall be as a tax or license fee upon all such corporations, companies or associations transacting said business within the city.
('69 Code, § 19-63) (Ord. passed 10-5-1897; Am. Ord. passed 12-3-01)
Statutory reference:
Authority; similar provisions, see ILCS Ch. 65, Act 5, §§ 11-10-1 et seq.