A member shall lose the right to obtain the benefits of the sick leave bank by:
- Resignation or termination of employment with the local school system;
- Cancellation of participation that is effective only on June 30 next;
- Refusal to honor such assessment as may be required from time to time by the trustees to maintain an adequate number of reserve days in the bank;
- Being on approved leave of absence with the exception of personal illness or disability leave; or
- Retirement.