(A) All corporations, companies, firms and associations in operation under the laws of the State of Illinois and which are engaged in the City of Mt. Vernon in effecting fire insurance, shall pay to the City on or before the fifteenth day of July each year, a sum equal to 2% of the gross receipts of such corporations, companies, firms and associations in the City for the year ending on July 1 preceding such report. Every person who shall act in the City as agent or employee of any such corporation, company, form or association, shall render to the City Clerk on or before July 15 of each year a true and verified account of all premiums received by him or any person for him in the year ending July 1 preceding such report, in behalf of any such corporation, company, firm or association and shall specify in such report the amounts received for fire insurance. Such agent shall also pay to the City, upon rendering such report, the amount required to be paid by such corporation, company, firm or association represented by him.
(B) No corporation, company, firm or association shall transact any business within the City after July 15 of each year, unless and until the annual report required hereunder has been made and the fee paid in full. The failure of any person or of any corporation, company, firm or association to comply with the requirements of this Article shall be deemed a violation thereof.
(Prior Code, Art. 4)