(a) A participation agreement shall be rejected if:
(1) the participation agreement is incomplete;
(2) an entry in the participation agreement is inconsistent with the plan or this chapter; or
(3) the applicant does not meet the eligibility requirements.
(b) If a participation agreement is rejected, the administrator shall promptly notify the applicant in writing of the rejection and the reason for the rejection.History: Rule 11-87, eff 17 Jun 87.