(1) A member is a participant of the Montana VEBA HRA at the time the member separates from service, submits a signed and completed enrollment form to the department or administrator, as applicable, and the contracting employer makes a contribution to the participant's account. 

(2) If a member dies as an active employee, all accrued leave benefits must be paid as taxable income. The member is not a participant.

(3) Each participant may direct the investment of funds in the participant's account among the investment vehicles offered. The department shall identify a default investment vehicle for a participant who fails to select an investment vehicle.

(4) Participants may make investment changes on a monthly basis.

(5) A participant account closes when the balance of the account is zero.