(A) No company, corporation or association, not incorporated under the laws of the state, shall engage in the city in effecting fire insurance, or transact any fire insurance business in the city, while in default by not fully complying with any of the requirements of this subchapter, until such requirements have been fully complied with.
(B) Division (A) of this section shall not relieve any such company, corporation or association from the payment of any risk that may be undertaken in violation of this subchapter.
(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 the state, which is in default for not reporting or making payments as provided in this subchapter, until it has complied with all of the requirements of this subchapter.
(2000 Code, § 5.20.010) Penalty, see § 110.999