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6-81-1808. Maximum amount of loans.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-1808. Maximum amount of loans.
(a) The maximum amount of each osteopathic rural medical practice loan for osteopathic medical students shall not exceed sixteen thousand five hundred dollars ($16,500) per academic year or those costs that are reasonable and necessary for the student's attendance as determined by the Osteopathic Rural Medical Practice Student Loan and Scholarship Board.
(b)(1) The maximum amount of each community match income incentive shall not exceed eighty thousand dollars ($80,000) or as the board otherwise shall determine payable under § 6-81-1816.
(2) The board shall provide fifty percent (50%) of the community match income incentive, and the qualified rural community shall provide the other fifty percent (50%) of the income incentive.
(3) However, if the board does not have sufficient funds to match the community's portion of the income incentive, nothing precludes a qualified rural community from providing the total income incentive amount.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-1808
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:6-81-1808
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 949e6fb8f34a70ea846a5d2a55a2fdb0d2b763b4580fc12e4293e18fc4978072
Source location: content.xml paragraph 43998
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6-81-1808. Maximum amount of loans.
(a) The maximum amount of each osteopathic rural medical practice loan for osteopathic medical students shall not exceed sixteen thousand five hundred dollars ($16,500) per academic year or those costs that are reasonable and necessary for the student's attendance as determined by the Osteopathic Rural Medical Practice Student Loan and Scholarship Board.
(b)(1) The maximum amount of each community match income incentive shall not exceed eighty thousand dollars ($80,000) or as the board otherwise shall determine payable under § 6-81-1816.
(2) The board shall provide fifty percent (50%) of the community match income incentive, and the qualified rural community shall provide the other fifty percent (50%) of the income incentive.
(3) However, if the board does not have sufficient funds to match the community's portion of the income incentive, nothing precludes a qualified rural community from providing the total income incentive amount.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-1816. Tracking loan contract compliance.
An osteopathic medical school in Arkansas shall:
(1) Track graduates who were recipients of osteopathic rural medical practice loans under this subchapter for the length of their contractual obligations; and
(2) Report to the Legislative Council by October 1 of each even-numbered year regarding the compliance of those graduates with the terms of their contracts.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-1816
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 6-81-1816. This identifies an authority to review, not proof of applicability.