(1) An eligible telecommunications carrier may elect not to participate under this subchapter without the need for approval by the Arkansas Lifeline Individual Verification Effort Corporation if the eligible telecommunications carrier files notice with the corporation within one hundred twenty (120) days after August 12, 2005.
(2) If approved by the corporation: A participating eligible telecommunications carrier may cease participation under this subchapter; and
(3) A nonparticipating eligible telecommunications carrier may begin participation under this subchapter.
(4) Applications to participate or cease participation shall be accepted at times approved by the Board of Directors of the Arkansas Lifeline Individual Verification Effort Corporation.