Haw. Code R. § 11-351-4 - Loan funds
(a) The fund is
implemented on the basis of an initial legislative appropriation of
$250,000.
(b) The fund may also
accept donations from any legitimate source, including federal and private
grants and gifts from private foundations or endowment organizations. Donations
will be received by the director for deposit in the fund.
(c) All interest and fees collected by the
department shall be deposited in the fund to cover the administrative costs
associated with operating the fund. All payments received on account of
principal shall be credited to the fund to maintain a proper reserve to
guarantee sufficient loans.
(d) All
funds in the student nursing loan program shall lapse into the general fund at
the close of business on June 30, 2000.
Notes
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