(A) If and when the municipality has a Fire Department employing volunteer firefighters, it shall be a member of the Volunteer Firefighters’ Dependents Fund and shall establish a Volunteer Firefighters’ Dependents Fund Board.
(B) A private volunteer fire company which has contracted to afford fire protection to a political subdivision or fire district may become a member of the Volunteer Firefighters’ Dependents Fund by election and shall, if it so elects, establish a Volunteer Firefighters’ Dependents Fund Board. The company shall notify the State Fire Marshal and the governing body of the political subdivision or fire district with which it has its major contract of the election to become a member of the Fund.
(R.C. § 146.02)