Kentucky Statutes 314.027 – Funding for scholarships — Contract for scholarship
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(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, certificate of need penalties assessed on hospitals, nursing facilities, nursing homes, personal care homes, and family care homes under the provisions of KRS § 216.560 and KRS § 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 of which shall be annually allocated to the Kentucky nursing incentive scholarship 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
314.027 or board administrative regulations. Failure to complete the terms of the contract shall subject the applicant to legal action for the recovery of all assistance provided, together with attorney fees and interest at a compound rate of eight percent (8%) from the date of disbursement from the Kentucky nursing incentive scholarship fund.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 143, sec. 15, effective July 14, 2018. — 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 ch. 128, sec. 4, effective July 14, 1992. — Created 1990 Ky. Acts ch. 249, sec. 3, effective July 13,
1990.
(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 of which shall be annually allocated to the Kentucky nursing incentive scholarship fund.
Terms Used In Kentucky Statutes 314.027
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Board: means Kentucky Board of Nursing. See Kentucky Statutes 314.011
- Contract: A legal written agreement that becomes binding when signed.
- Nurse: means a person who is licensed or holds the privilege to practice under the provisions of this chapter as a registered nurse or as a licensed practical nurse. See Kentucky Statutes 314.011
(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
314.027 or board administrative regulations. Failure to complete the terms of the contract shall subject the applicant to legal action for the recovery of all assistance provided, together with attorney fees and interest at a compound rate of eight percent (8%) from the date of disbursement from the Kentucky nursing incentive scholarship fund.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 143, sec. 15, effective July 14, 2018. — 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 ch. 128, sec. 4, effective July 14, 1992. — Created 1990 Ky. Acts ch. 249, sec. 3, effective July 13,
1990.