A. Tax Due City On Fire Policies: All corporations, companies and associations not incorporated under the laws of the State, and which are engaged in the City in effecting or soliciting fire insurance shall pay to the City Treasurer annually, on or before July 15, a sum equal to two percent (2%) of the gross receipts of premiums received by such corporation, company or association or their agency or agents, for business effected or transacted for fire insurance within the City for the year ending July 1, preceding said dates. The sum above named shall be as a tax or license fee upon all such corporations, companies or associations transacting said business within the City pursuant to 65 Illinois Compiled Statutes 5/11-10-1 et seq.
B. Statement Of Premiums Collected: Every person acting as agent or otherwise, for or upon behalf of any such corporation, company or association shall, on or before July 15 of each year, render to the city clerk a full, true and just account, verified under oath, of all the premiums which, during the year ending on July 1 of each and every year, shall have been received by him, or any other person for him, in behalf of any such corporation, company or association and shall have fully and specifically set out in said report, the amount or amounts received as premiums for fire insurance.
C. Tax Due With Report: The agent or agents shall also at the time of the making of the above mentioned report, pay to the city treasurer the sum of two percent (2%) upon the gross receipts of such corporation, company or association, obtained as premiums for effecting fire insurance in the city, as is specified in subsection A of this section.
D. Examination Of Books And Records: The city clerk or the secretary of the fire department may examine the books, records and other papers and documents of a designated agent, corporation, company or association for the purpose of verifying the correctness of the report of the amounts received for fire insurance.
E. City Fire Department's Duties: The fire department of the city shall annually, on the third Monday of May, or as soon thereafter as practicable, organize by the election of such officers, by said department, as they may deem necessary, including a clerk and a treasurer, and they may make such rules and regulations, not in conflict with this section, in respect of the election of such officers and the management of the funds arising from the tax or license aforesaid as may be needful. They shall file a copy of such rules and regulations, and any amendment thereof, in the office of the city clerk. The city treasurer shall pay to the treasurer of the fire department all sums of money received by him from insurance companies for the tax or license aforesaid. The treasurer of the fire department shall execute a bond to the city in the penal sum of five thousand dollars ($5,000.00), with security to be approved by the city council, conditioned for the faithful performance of his duties under this section and under the rules and regulations made by the fire department in pursuance thereof. He shall receive the monies collected as aforesaid and shall pay out the same upon the order of the fire department for the purpose of the maintenance, use and benefit of the fire department and shall semiannually, on May 1 and November 1 of each year, and more often upon request by the council, file with the city clerk his report in writing showing all items or receipts and expenditures and stating the purpose of all disbursements on account of such fund. The treasurer of the fire department shall give written notice to the city council on any single expenditure in excess of five thousand dollars ($5,000.00).
F. Penalty: If such account be not rendered on or before the day herein designated for that purpose, or if the above mentioned rates for the said tax or license fee 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 city until the requirements hereof have been fully complied with; nevertheless, this provision shall in no way affect the validity of any risk that may be taken in violation hereof, between such corporation, company or association and the person so insured.
If any such corporation, company or association fails to render the account or report herein designated by the day required by this section, or if the above mentioned rates, as a tax or license fee, shall remain unpaid after the date designated, July 15, every such corporation, company or association shall forfeit and pay to the city the sum of two hundred dollars ($200.00) upon conviction, for each and every offense, and in addition to such penalty, the city shall recover, in an action in its name, for its use against such corporation, company or association so failing to make such report, or pay such license fee or tax to the full amount of the said license fee, which would be due under the provisions hereof. (1993 Code)