Oklahoma Administrative Code
Title 540 - Physician Manpower Training Commission
Chapter 35 - Community Match Intern Resident Program
Section 540:35-1-4 - Terms and conditions of loans

Universal Citation: OK Admin Code 540:35-1-4

Current through Vol. 42, No. 1, September 16, 2024

(a) Recipients shall agree to practice medicine in the specific community for a minimum of three years for a $50,000 loan, or two years for a $30,000 loan. Communities shall deposit the funds with the Health Care Workforce Training Commission to be administered and matched by the Commission.

(b) The procedures, terms and conditions governing the loans and how they are administered shall be as prescribed and formulated by the Health Care Workforce Training Commission but shall include the following:

(1) Eligible communities desiring to participate in the Oklahoma Community Match Intern Resident Program, shall select an individual who meets the requirements for participating and give notice to the Commission.

(2) The Commission shall aid and advise communities in the selection of qualified individuals to participate in a given community loan program.

(3) The communities shall deposit their total share, 40%, of the loan with the Commission a minimum of 30 days prior to the participating physician's initial practice date in the community.

(4) The Commission shall review and approve the selection of a given individual and then (based on availability of funds) match community funds with the state funds from the Oklahoma Community Match Intern Resident Program in the amount agreed upon by the participating physician, the Commission, and the community in each particular case, within limits prescribed by the Commission.

(c) The Contract shall provide that in the event the recipient breaches the terms of the contract by not serving the designated community for the specified period of time, he/she shall pay liquidated damages in an amount determined by the Commission and representing a reasonable estimate of the damage or loss to the community or the state. Said damages shall not exceed one hundred percent (100%) of the principal. After payment of the liquidated damages, repayment of the principal and interest shall be made as agreed upon by the Commission and the recipient.

Added at 15 Ok Reg 1780, eff 5-11-98

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