Ohio Admin. Code 4717-14-09

Current through all regulations passed and filed through October 28, 2024

Section 4717-14-09 - Fund deposits

(A) For the quarter beginning October 1, 2017, and each quarter thereafter, the following amounts shall be paid to the fund by the funeral director actually in charge or institutional depositor:

(1) Ten dollars for each preneed funeral contract sold in the state until the balance of the fund exceeds two million dollars at the end of any fiscal year;

(2) Where the fund exceeds two million dollars at the end of a fiscal year, the amount shall be reduced to five dollars for each preneed funeral contract sold in the state until the fund balance of the fund exceeds three million dollars at the end of any fiscal year.

(B) The deposits required by this section shall be suspended when the balance of the fund exceeds three million dollars at the end of any fiscal year.

(C) Quarterly reporting and payment to the fund shall be made by the funeral director actually in charge or institutional depositor using the automated reporting and preneed payment system.

(D) The funeral director actually in charge or institutional depositor shall continue to submit quarterly reports during periods where deposits to the fund are suspended for the upcoming fiscal year.

(E) The fee authorized under section 4717.41 of the Revised Code is not direct payment prohibited under section 4717.35 and division (C) of section 4717.36 of the Revised Code and may be collected by a funeral director or funeral home.

Ohio Admin. Code 4717-14-09

Five Year Review (FYR) Dates: 5/16/2022 and 05/01/2027
Promulgated Under: 119.03
Statutory Authority: 4717.04
Rule Amplifies: 4717.41
Prior Effective Dates: 01/06/2018

Effective: 1/6/2018
Five Year Review (FYR) Dates: 01/06/2022
Promulgated Under: 119.03
Statutory Authority: 4717.04
Rule Amplifies: 4717.41