To enact section 2315.50 of the Revised Code to declare how monetary awards in class actions that are not paid over to members of the class are to be used.

Section 1. That section 2315.50 of the Revised Code be enacted to read as follows:

Sec. 2315.50. (A) This section applies to an action maintained as a class action in which the settlement agreement or judgment includes a monetary award, including compensatory or punitive and exemplary damages, restitution, or any other payment of money due from each defendant to the members of the class.

(B) It is the policy of this state, insofar as it is not inconsistent with federal law, that, except as otherwise provided by court order, all unpaid moneys remaining after the distribution to the members of the class of monetary awards in class actions described in division (A) of this section shall be used for charitable public purposes. All of those unpaid moneys shall be distributed to charities, nonprofit organizations, and charitable programs selected in the action and approved by the court. A charity, nonprofit organization, or charitable program must be exempt from federal income taxation under section 501(c)(3) of the "Internal Revenue Code of 1986," 26 U.S.C. 1, 100 Stat. 2085, as amended in order to qualify as a recipient of the unpaid moneys under this section.