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43.200 Auditor's scholarships in accounting.
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There is hereby created in the Auditor of Public Accounts office a scholarship
program for economically disadvantaged students planning to major in
accounting at Kentucky institutions of higher education agreeing to provide
matching funds.
Up to four (4) students each year shall be selected by the Auditor as eligible to
receive a scholarship for up to four (4) years while pursuing an accounting
degree. Each individual scholarship shall be subject to review annually.
The annual scholarship amount shall be set by the Auditor in an amount
required to cover the average cost of room, board, tuition, and fees at Kentucky
public institutions, as well as living expenses. In addition, the scholarship shall
include full-time summer employment with the Auditor's office.
Upon receiving their accounting degree, recipients of the scholarship shall be
required to work one (1) year for the Auditor's office for each year they received
the scholarship.
Recipients failing to complete an accounting program or failing to fulfill the
service requirement shall become liable to the Auditor's office for the sum of all
scholarship funds received plus interest for the entire period. The rate of
interest shall be determined when the scholarship is awarded. The debt may
be deferred for cause by the Auditor and a schedule for repayment may be
established.
The Auditor's office shall execute appropriate contracts and promissory notes
with scholarship recipients.
Effective:July 15, 1988
History: Created 1988 Ky. Acts ch. 358, sec. 1, effective July 15, 1988.
2014-2016 Budget Reference. See State/Executive Branch Budget, 2014 Ky. Acts
ch. 117, Pt. I, A, 23, (1) at 618.
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