314.027 Funding for scholarships -- Contract for scholarship.
(1) Funding for the Kentucky nursing incentive scholarship fund shall be supplied
partly by funds received from penalties and fines, to include, but not be limited to, <br>certificate of need penalties assessed on primary care centers, hospitals, nursing <br>facilities, and skilled and intermediate care nursing homes under the provisions of <br>KRS 216.560 and 216B.131(2).
(2) Additional funding shall be provided by an assessment of five dollars ($5) to be
added to each nurse licensure renewal application fee payable to the board, proceeds <br>of which shall be annually allocated to the Kentucky nursing incentive scholarship <br>fund.
(3) The board may cancel any contract between it and any applicant or recipient upon
failure by the applicant or recipient to meet requirements of KRS 314.025 to <br>314.027 or board administrative regulations. Failure to complete the terms of the <br>contract shall subject the applicant to legal action for the recovery of all assistance <br>provided, together with attorney fees and interest at a compound rate of eight <br>percent (8%) from the date of disbursement from the Kentucky nursing incentive <br>scholarship fund.
Effective: July 15, 1996 <br>History: Amended 1996 Ky. Acts ch. 26, sec. 3, effective July 15, 1996. -- Amended
1994 Ky. Acts ch. 367, sec. 4, effective July 15, 1994. -- Amended 1992 Ky. Acts <br>ch. 128, sec. 4, effective July 14, 1992. -- Created 1990 Ky. Acts ch. 249, sec. 3, <br>effective July 13, 1990.
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