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6-81-706. Medical students — Eligibility for initial and renewal loans.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-706. Medical students — Eligibility for initial and renewal loans.
(a) The Arkansas Rural Medical Practice Student Loan and Scholarship Board may make rural medical practice loans to the applicant, each rural medical practice loan being expressly made subject to the provisions of §§ 6-81-708(c) and 6-81-710, if it finds that:
(1) The applicant is a bona fide resident of Arkansas;
(2) The applicant has been accepted for admission to or is enrolled in good standing in the College of Medicine of the University of Arkansas for Medical Sciences in studies leading to the degree of Doctor of Medicine;
(3) The applicant is enrolled in a medically underserved and rural practice curriculum;
(4) The applicant needs financial assistance to complete his or her medical studies;
(5) The applicant desires to practice medicine in an eligible qualified rural community; and
(6) The applicant is a person of good moral character and one who has the talent and capacity to profit by medical studies.
(b) Subject to the availability of funds, an initial rural medical practice loan for one (1) academic year shall be renewable annually for the number of years required to complete studies leading to the Doctor of Medicine degree or for additional amounts, not to exceed the maximum amounts specified in § 6-81-707, but all subsequent rural medical practice loans shall be granted only upon application by the recipient and a finding by the board that:
(1) The applicant has completed successfully the medical studies of the preceding academic year and remains in good standing as an enrolled student in the college;
(2) The applicant is enrolled or participating in a medically underserved and rural practice curriculum;
(3) The applicant continues to be a resident of Arkansas; an
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-706
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:6-81-706
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 8d788422ddd4e31adaf6d273887d720c6a7551489dca42a67bcb4835a2a49930
Source location: content.xml paragraph 42923
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6-81-706. Medical students — Eligibility for initial and renewal loans.
(a) The Arkansas Rural Medical Practice Student Loan and Scholarship Board may make rural medical practice loans to the applicant, each rural medical practice loan being expressly made subject to the provisions of §§ 6-81-708(c) and 6-81-710, if it finds that:
(1) The applicant is a bona fide resident of Arkansas;
(2) The applicant has been accepted for admission to or is enrolled in good standing in the College of Medicine of the University of Arkansas for Medical Sciences in studies leading to the degree of Doctor of Medicine;
(3) The applicant is enrolled in a medically underserved and rural practice curriculum;
(4) The applicant needs financial assistance to complete his or her medical studies;
(5) The applicant desires to practice medicine in an eligible qualified rural community; and
(6) The applicant is a person of good moral character and one who has the talent and capacity to profit by medical studies.
(b) Subject to the availability of funds, an initial rural medical practice loan for one (1) academic year shall be renewable annually for the number of years required to complete studies leading to the Doctor of Medicine degree or for additional amounts, not to exceed the maximum amounts specified in § 6-81-707, but all subsequent rural medical practice loans shall be granted only upon application by the recipient and a finding by the board that:
(1) The applicant has completed successfully the medical studies of the preceding academic year and remains in good standing as an enrolled student in the college;
(2) The applicant is enrolled or participating in a medically underserved and rural practice curriculum;
(3) The applicant continues to be a resident of Arkansas; and
(4) The applicant's financial situation continues to warrant financial assistance made under the conditions of this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-707. Maximum amount of loans.
(a) The maximum amount of each rural practice loan for 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 Arkansas 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 § 6-81-716.
(2) The Arkansas Rural Medical Practice Student Loan and Scholarship Board shall provide one-half (½) of the community match income incentive, and the qualified rural community shall provide the other one-half (½) 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) · 6-81-707
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 6-81-707. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-708. Loan contracts — Rural Medical Practice Loans — Obligations and conditions.
(a) The Arkansas Rural Medical Practice Student Loan and Scholarship Board shall enter into a loan contract with the applicant to whom a rural medical practice loan is made.
(b) The contract shall be approved by the Attorney General and shall be signed by the Chair of the Arkansas Rural Medical Practice Student Loan and Scholarship Board, countersigned by the Secretary of the Arkansas Rural Medical Practice Student Loan and Scholarship Board, and signed by the applicant.
(c) Each applicant to whom a rural medical practice loan or loans is granted by the Arkansas Rural Medical Practice Student Loan and Scholarship Board shall execute a written loan contract that incorporates the following obligations and conditions:
(1)(A) The recipient of a rural medical practice loan or loans shall bindingly contract that he or she shall practice primary care medicine full time in a qualified rural community upon completion of:
(i) His or her medical internship of one (1) year undertaken immediately following the earning of the degree of Doctor of Medicine;
(ii) Four (4) additional years of medical training beyond the internship if the training has been approved in advance by the Arkansas Rural Medical Practice Student Loan and Scholarship Board and includes practice experience in a rural community; or
(iii) At the request of the recipient of a rural medical practice loan, the Arkansas Rural Medical Practice Student Loan and Scholarship Board may approve the recipient's request to practice in more than one (1) qualified rural community to meet his or her obligation to practice full time if the Arkansas Rural Medical Practice Student Loan and Scholarship Board determines, based upon guide
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-708
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 6-81-708. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-710. Funding of loans.
(a)(1) All payments for rural practice loans and community match loans under this subchapter shall be made on requisitions signed by the Chair of the Arkansas Rural Medical Practice Student Loan and Scholarship Board drawn against the funds held for the purpose of this subchapter.
(2) These funds, consisting of state appropriations so designated, revolving amounts received from repayment of loans and interest, and all funds and property and income therefrom received by the board under its authority to accept and apply gifts, bequests, and devises shall be held in trust and disbursed by the fiscal officers of the University of Arkansas for Medical Sciences for the aforesaid purposes.
(b) Funds collected as a result of a recipient's breach of a rural practice loan contract or community match loan contract shall be held in trust for the use of the Arkansas Rural Medical Practice Student Loan and Scholarship Program and the Community Match Rural Physician Recruitment Program, or as otherwise deemed appropriate by the Arkansas Rural Medical Practice Student Loan and Scholarship Board in its discretion, and disbursed by the fiscal officer of the University of Arkansas for Medical Sciences under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-710
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 6-81-710. This identifies an authority to review, not proof of applicability.