8 AAC 45.184. Executive officer waivers

(a) The executive officer or officers of a duly formed corporation may waive their rights to benefits under the Act, in accordance with AS 23.30.240 and this section.

(b) A person who is an executive officer and who desires to waive coverage under the Act shall petition the commissioner for a waiver. The petition for waiver must include

(1) proof of incorporation;

(2) a copy of the page of the minutes of the corporate meeting that reflects the petitioner's election or appointment as an executive officer;

(3) an affidavit signed by the petitioner stating under oath that the petitioner freely and voluntarily waives coverage under the Act;

(4) the petitioner's name, address, and title; and

(5) a copy of the first page of the articles of incorporation and a copy of the page or pages of the bylaws that state the officers' titles and duties.

(c) Upon receipt of a completed petition, the commissioner will promptly grant or deny the waiver. When the commissioner denies a request for a waiver of coverage under this section, the commissioner will promptly mail to the petitioner a statement of reasons supporting denial of coverage. If the request to waive coverage is denied, the petitioner may petition the board for a hearing to review the reasons for denial. The petition for review must be submitted to the board within 30 days after the date of the commissioner's denial. After a hearing the board will, by means of an order, either affirm or reverse the commissioner's decision.

(d) No waiver is effective until approved by the commissioner or board in accordance with this section.

(e) A waiver may be cancelled by the commissioner upon receipt of a petition for cancellation of waiver signed by the person who is covered by the waiver.

(f) A waiver is not transferable.

History: Eff. 5/28/83, Register 86; am 3/16/90, Register 113; am 7/20/97, Register 143

Authority: AS 23.30.005

AS 23.30.240

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