Kentucky Administrative Regulations
Title 11 - KENTUCKY HIGHER EDUCATION ASSISTANCE AUTHORITY
Chapter 14 - Osteopath Medicine Scholarship Program
Section 11 KAR 14:030 - Osteopathic Medicine Scholarship Program disbursement process
Universal Citation: 11 KY Admin Regs Service 14:030
Current through Register Vol. 51, No. 3, September 1, 2024
RELATES TO: KRS 164.7891
NECESSITY, FUNCTION, AND CONFORMITY: KRS 164.7891 requires the authority to promulgate administrative regulations for administration of the Osteopathic Medicine Scholarship Program. This administrative regulation establishes procedures for disbursement of the monies awarded under the Osteopathic Medicine Scholarship Program.
Section 1. Definition. "Authority" is defined in KRS 164.740(1).
Section 2. Disbursement of Funds.
(1) Within thirty (30) days following receipt
by the authority of the original signed promissory notes for all students
eligible to receive the osteopathic medicine scholarship, the monies awarded
under the Osteopathic Medicine Scholarship Program shall be transmitted
directly to the school of osteopathic medicine on behalf of all students
eligible to receive the osteopathic medicine scholarship by electronic funds
transfer.
(2) The authority shall
send to the school a disbursement roster containing each recipient's name and
Social Security number.
(3) The
school shall hold the funds solely for the benefit of the student eligible to
receive the osteopathic medicine scholarship and the authority until the
recipient has registered for classes for the period of enrollment for which the
scholarship is intended.
(4) Upon
the recipient's registration, the school shall immediately credit the
recipient's account and notify the recipient in writing that it has so credited
that account, and deliver to the recipient any remaining osteopathic medicine
scholarship proceeds.
(5) The
school shall indicate on the disbursement roster the date funds were either
credited to the student's account or disbursed to the student, the name of a
recipient for whom funds are being returned, the amount being returned, and the
reason funds are being returned.
(6) If a recipient does not register for the
period of enrollment for which the scholarship was awarded, or a registered
student withdraws or is expelled prior to the first day of classes of the
period of enrollment for which the scholarship is awarded, the school shall
return the proceeds to the authority by electronic funds transfer within ten
(10) days of the recipient's withdrawal, expulsion, or failure to
register.
(7) The school shall
retain a copy of the disbursement roster for its records and forward the
original roster and any undisbursed osteopathic medicine scholarship funds to
the authority not later than thirty (30) days following receipt of the roster
and the funds.
Section 3.
(1)
(a) If
a recipient subsequently refuses to repay the osteopathic medicine scholarship
on grounds that he was unaware of or did not receive delivery of the
scholarship proceeds from the school, upon written request from the authority,
the school shall promptly provide documentary evidence to the authority that
the recipient received or had funds credited to his student account and was
notified of this transaction.
(b)
The school shall otherwise reimburse the authority for any amount of the
scholarship that is unenforceable absent that documentary
evidence.
(2) The
obligation of the school to provide the documentary evidence specified in
subsection (1)(a) of this section shall continue until the recipient's
obligations for repayment of the osteopathic medicine scholarship is paid in
full or otherwise discharged.
STATUTORY AUTHORITY: KRS 164.748(4), 164.7891(9)
Disclaimer: These regulations may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
