(A) Every person acting in the village 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 to the Village 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 behalf of any such corporation, company or association on property located within the village. Such agent shall also, at the time of rendering the aforesaid report, pay to the Village Treasurer the sum of money for which, each such corporation, company or association represented by him or her is chargeable, by virtue of the provisions of this subchapter. The sum of money for which such corporation, company 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 village as for money had and received.
(B) No insurance agent in the village shall have any insurance business or dealings with any corporation, company or association not incorporated under the laws of the state, which shall be in default for not reporting or making payments as hereinabove provided, until it shall have complied with all the requirements of this subchapter.
(Prior Code, § 35.32)