Chapter 5.52
FOREIGN FIRE INSURANCE COMPANIES
Sections:
For statutory provisions authorizing municipalities to levy a fee on foreign fire insurance companies, see 65 ILCS 5/11-10-1.
5.52.010 License required.
It is unlawful for any corporation or association not incorporated under the laws of the state to engage in effecting fire insurance in the village or to transact any business of fire insurance in the village without fully complying with the provisions of this chapter.
5.52.020 Fees.
Any such corporation or association shall pay to the treasurer of the village, for the maintenance, use and benefit of the fire department pension fund, a sum of money equal to two percent of the gross receipts each year received from premiums by any and all agents of any such corporation or association or received as premiums in any way for fire insurance policies on any property in the village. Such payments shall be made for the year ending the first of July of each year.
5.52.030 Reports.
Every person acting as representative for or on behalf of any such company or association shall, on or before the fifteenth day of July of each year, render to the village treasurer a full, true and just account, verified by oath, of all premiums which have been received by him on behalf of the company or association during the year ending the preceding July 1st on such fire insurance policies.
5.52.040 Time of payment.
All payments under the provisions of this chapter shall be made on or before the fifteenth day of July following the termination of the year for which such payments are due.