If such an account be not rendered on or before the day herein specified for that purpose, or if the above mentioned rates for the said tax or license fees shall remain unpaid after that day, it shall be unlawful for any such corporation, company or association to transact any business of fire insurance in the village; until the requirements hereof are fully complied with; but this provision shall not relieve any company, corporation or association from the payment of any such risk that may be taken in violation hereof.
(Prior Code, § 3-204)