The total of all initial premiums collected by the State Treasurer under R.C. § 143.06 is the basic capital account of the Volunteer Peace Officers’ Dependents Fund. No further contributions are required of the village until claims against the fund have reduced it to 95% or less of its basic capital account. In that event, the Director of Commerce shall cause the following assessments, based on current property valuation, to be made and certified to the Village Council according to R.C. § 143.07.
(Ord. O-33-2016, passed 12-28-2016)