S.C. Code Regs. 67-402 - Corporate Officer Rejection of the Act
A. A corporate officer may reject the Act by
taking the following action:
(1) The
corporate officer shall complete and file with the employer's insurance carrier
a Form 5, Corporate Officer Notice to Reject.
(2) The effective date of rejection is the
effective date listed on the Form 5, no sooner than the day following the day
the corporate officer signed the form.
(3) The corporate officer shall provide
notice to the employer of the rejection of the Act by giving a copy of the Form
5, personally, to the employer or its agent or by sending it by registered or
certified mail to the employer or its agent.
B. An insurance carrier or self-insured fund
may substitute its own form for the Form 5. Any substitute form must:
(1) Include substantially the same
information included on the Form 5, including information that advises the
corporate officer of the effects of rejecting the Act; and
(2) Require the corporate officer's signature
be notarized.
Notes
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