A. Compliance With Provisions: It shall be unlawful for any corporation, company or association, not incorporated under the laws of the State, to engage in the City in effecting fire insurance, or to transact any business of fire insurance in the City, while in default by not fully complying with any of the requirements of this section, and until such 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.
B. Tax Imposed: Any such corporation, company or association not incorporated under the laws of the State, which is engaged in the City in effecting fire insurance, shall pay the Treasurer of the City for the maintenance, use and benefit of the Fire Department of the City a sum of money equal in amount of two percent (2%) per annum of the gross receipts received as premiums upon fire insurance policies by any and all agents of such corporation, company or association, during the year ending on July 1, in each year, for any insurance effected or agreed to be effected on property located in the district by or with such corporation, company or association during such year.
C. Report Premiums; Pay Tax: Every person acting in the City as agents for or on behalf of any such corporation, company or association shall, on or before July 15, of each and every year, render the City Clerk a full, true and just account verified by his year ending July 1 preceding such report, shall have been received by him, or by some other person for him in behalf of any such corporation, company or association on property located in the City. Such agent shall also, at the time of rendering the aforesaid report, pay to the Treasurer 1 of the City the sum of money for which each such corporation, company or association represented by him is chargeable, by virtue of the provisions of this section.
D. Action To Recover Payments: The sum of money for which such corporation, company or association is so chargeable, may be recovered from it or its agents or agent by an action in the name of and for the use of the City as for money had and received. Nothing in this section 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 July 1, 1895, as amended.
E. Insurance Agents Restricted: No insurance agent in the City shall have any insurance business or dealings with any corporation, company or association not incorporated under the laws of this State, which shall be in default for not reporting or making payments as hereinabove provided, until it shall have complied with all the requirements of this section. (Ord. 28, 6-27-1957; amd. Ord. 436, 11-23-1992)
Notes
| 1 | 1. See subsection 7-1-5B of this Code. |