234.292 Annual assessment -- Requirements of council.
360 words·~2 min read·
/ky/chapter-234/234-292A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The council shall establish the annual assessment subject to the limitations of KRS
234.288(3) to be paid by the owner of odorized propane at the time of odorization
or at the time of import of odorized propane into the state. The assessment shall be
made based on the volume of odorized propane sold for final use within the
Commonwealth.
(2)The assessment shall be listed as a separate line item on the bill and labeled
"Kentucky Propane Education and Research Assessment." Assessments collected
from purchasers of propane are payable to the council on a monthly basis and are
due by the twenty-fifth day of the month following the month of collection.
(3)The council may establish an alternative means of collecting the assessment if
another method is found to be more efficient or effective. The council may establish
a late payment charge and rate of interest to be imposed on any person who fails to
remit to the council any amount due by the date listed in subsection
(2)of this
section.
(4)The council shall elect its own chair and may elect other officers as necessary. The
council shall determine its business structure and adopt rules and bylaws for the
conduct of its business. The council shall establish procedures for the solicitation of
industry comments and recommendations on plans and programs financed by the
assessments.
(5)The council shall keep minutes, books, and records that clearly reflect all of the acts
and transactions of the council. The minutes, books, and records shall be made
available to the members of the council, the commissioner, and persons paying the
assessment.
(6)The council shall, at the beginning of each fiscal year, prepare and submit to the
commissioner a budget. The commissioner shall review and comment on the
proposed budget.
(7)The books of the council shall be audited by a certified public accountant at least
once each fiscal year. Copies of the audit shall be provided to the members of the
council and the commissioner.
(8)The council may contract with an industry association certified under KRS 234.280
for administrative and other services subject to the limitation in KRS 234.294(2).