§ 6-365. Expenditure of Foreign Fire Insurance Company Tax proceeds; Foreign Fire Insurance Board.

Latest version.

(a)

The tax remitted to the village pursuant to this article shall be set apart by the Village Treasurer and appropriated annually by the corporate authorities of the village to a Foreign Fire Insurance Fund, which fund shall be administered by a Foreign Fire Insurance Board in the manner provided in ILCS ch. 65, act 5, § 11-10-2, now or hereafter amended. Persons subject to said tax shall submit returns to the village in the manner provided in ILCS ch. 65, act 5, § 11-10-1, now or hereafter amended.

(b)

The members of the Foreign Fire Insurance Board shall be as provided in section 2-553.

(Code 1993, § 6-10.3.3; Ord. No. 2003-O-35, 5-27-2003)

                    
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