First, let me say that I do not like the current or former OOT rule and will lobby to make changes in 2017 at a later time. This post is merely to suggest alternative wording with a little more content for 40A.
40: Action Out of Turn (OOT)
A: All actions OOT are subject to penalty. An OOT fold is always binding. An OOT action of either check, call, bet, or raise is binding only if the corrected action to the OOT player is not changed. If a skipped player makes a bet or raise then the action is considered to have changed and the OOT action is not binding and the OOT player has all options including: calling, raising, or folding. Corrective action of check, call or fold by all skipped players does not change the action to the OOT player and only then is the OOT action binding. Skipped players need to be aware that their corrective action is never in response to the OOT action. A skipped player cannot call the OOT players bet or raise until the corrected action returns “unchanged” to the OOT player and the OOT bet or raise becomes binding, then action may return to previously skipped players in proper order for their response to the OOT action which is now bound.