(A) It shall be unlawful for any corporation or association, not incorporated under the laws of the State of Illinois, to engage in effecting fire insurance, or to transact any business of fire insurance in the city while not in full compliance with all of the requirements of this subchapter; 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 subchapter.
(B) Any corporation, company or association not incorporated under the laws of the State of Illinois, which is engaged in the city in effecting fire insurance, shall pay to the Comptroller for the maintenance, use and benefit of the Fire Department, a sum of money equal in amount to 2% per annum of the gross receipts received for premiums by any and all agents of any such corporation, company or any and all agents of any such corporation, company or association during the year ending on every first day of July, for any insurance effected or agreed to be effected in the city by or with any such corporation, company or association during such year.
(Ord. 1667, passed 6-28-1999)