(a) It shall be the responsibility of a participant to notify the administrator in writing of any change in an entry on the participation agreement.

(b) Upon receipt of a notification of change, the administrator shall promptly inform the participant whether the change requires:

(1) an amended participation agreement to be filed and accepted by the board; or

(2) proof of documentation to substantiate the change.

(c) The administrator shall make the change as soon as practicable following the receipt of a notification of change.

(d) If a change would be inconsistent with the plan or this chapter, the administrator shall promptly notify the participant in writing that the change cannot be made and the reason why it cannot be made.

History: Rule 11-87, eff 17 Jun 87.