[1960 Code, Sec. 2.10.010]
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 on July 15 of each and every year a sum equal to 2% of the gross receipts of premiums 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 a tax or license fee upon all such corporations, companies and associations transacting such business within the City.[1]
[1]
See 65 ILCS 5/11-10-1.
[1960 Code, Sec. 2.10.020]
Every person acting as agent or otherwise for or upon behalf of such corporation, company or association, shall on or before July of each and every year render to the City Clerk a full, true and just account verified by oath of all premiums which during the year ending July 1 of each and every year have been received by him, or any other person for him, in behalf of such corporation, company or association, and shall fully and specifically set out in said report the amount or amounts received as premiums for fire insurance.
[1960 Code, Sec. 2.10.040]
The agent or agents shall also, at the time of making the above mentioned report, pay to the City Treasurer 2% of the gross receipts of such corporation, company or association obtained as premiums for effecting fire insurance in the City as above specified.
If such account be not rendered on or before the day herein designated for that purpose, or if the above mentioned rate for 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. This provision shall, however, in no way affect the validity of any risk that may be taken in violation thereof, between such corporation, company or association and the person so insured.
[Ord. 147, 6-6-1983]
All sums received in payment of the tax or license fee on the gross receipts of premiums for foreign fire insurance, on such business effected or transacted in the City, shall be paid by the City Treasurer to the treasurer of the fire department. The treasurer of the fire department shall receive the money so paid in and shall pay out the money upon the order of the fire department for the maintenance, use, and benefit of the fire department. The officers of the fire department, as elected by the members of the department from time to time, shall make all needful rules and regulations with respect to the department and the management of the money to be paid to the treasurer of the fire department from the foreign fire insurance company fees.
[1960 Code, Sec. 2.10.070]
The sinking fund of the firemen's pension fund shall receive all monies collected up to this date on the tax or license fee on the gross receipts or premiums for foreign fire insurance, commonly referred to as the 2% foreign fire insurance tax. However, all monies hereafter acquired by the City under said tax shall be disbursed as provided in Section 3-11-4 of this chapter. No source of revenue available to the firemen's pension fund under the ordinances of the City are affected by this section other than the above referred to 2% foreign fire insurance tax.
[1960 Code, Sec. 2.10.090]
Before any such foreign fire insurance company shall create an agency for the purpose of effecting fire insurance in the City, it shall register with the City collector the name of all agents of the company who may solicit business for said company, and upon any change being made in such agency, the City comptroller shall be notified thereof. Any such company refusing or neglecting to comply with the provisions of this chapter shall be subject to the penalty hereinafter provided.
[1960 Code, Sec. 2.10.050]
If any such corporation, company or association shall fail to render the account or report herein designated by the day required herein, or if the above mentioned rate as a tax or license fee shall remain unpaid after July 15, every such corporation or association shall forfeit and pay to the City the sum of $200, 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 as herein prescribed against such corporation, company or association so failing to make such report or pay such license fee or tax, the full amount of the said license fee or tax which would be due under the provisions hereof.