(A) (1) Every person acting in the city 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 City 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 his or her behalf of any such corporation, company or association on property located in the city.
(2) Such agent shall also at the time of rendering the aforesaid report, pay to the City Treasurer the sum of money for which company, corporation or association, represented by him or her is chargeable, by virtue of the provisions of this subchapter.
(B) (1) 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 city as for money had and received.
(2) 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 and Villages, Organized under Any General or Special Law, to Levy and Collect a Tax or License Fee from Foreign Insurance Companies for the Benefit of Organized Fire Departments”, in force July 1, 1895.
(C) No insurance agent in the city shall have any insurance business or dealings with any company, association or corporation not incorporated under the laws of this state, which shall be in default for not reporting or making payments as hereinbefore provided, until it shall have complied with all the requirements of this subchapter.
(1974 Code, § 3-8-3) (Ord. 329, passed - -1937)
Statutory reference:
Similar provisions, see 65 ILCS 5/11-10-1