16-47-224
Section 16-47-224 Liability upon default, etc.; penalties. (a) If a participant defaults on or otherwise fails to honor a loan-repayment contract with the board, the individual shall be liable for immediate repayment of the total principal loan amount plus interest at the rate of 8 percent accruing from the date of default or other failure to honor the contract. In addition, the participant shall pay an additional penalty as specified: (1) For default or other failure to honor a contract before graduation with a master's degree in physician assistant studies, a penalty equal to 30 percent of the total principal amount of the loan or loans received by the participant. (2) For default or other failure to honor a contract after graduation with a master's degree in physician assistant studies but prior to completion of the repayment obligation set forth in Section 16-47-222, a penalty equal to 100 percent of the total principal amount of all loans received by the participant from the...
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34-21-98
Section 34-21-98 Provisions for default or other failure to honor a contract with the board. (a) In the event that the participant defaults on or otherwise fails to honor a loan-repayment contract with the board for any reason, the individual shall be liable for immediate repayment of the total principal loan amount plus interest at the rate of eight percent, or the prime lending rate, whichever is greater, accruing from the date of default or other failure to honor the contract. In addition, the participant shall pay an additional penalty as specified: (1) For default or other failure to honor a contract under which a year's worth of loans have been received, a penalty equal to 20 percent of the total principal amount of the loan. (2) For default or other failure to honor a contract under which two years' worth of loans have been received, a penalty equal to 30 percent of the total principal amount of the loan. (3) For default or other failure to honor a contract under which three or...
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16-47-222
Section 16-47-222 Applications and awards; repayment of loans. (a) The board shall establish and award, according to the judgment of the board, loans to provide for the training of qualified applicants for admission or students in any accredited master's degree program for physician assistant studies at a medical school or college. The board may permit eligible people to apply for a loan under the Alabama Physician's Assistants Service Program in any scholastic year and for any previously completed scholastic year. The board's awarding of loans shall be done after consultation with the physician's assistant advisory committee of the Alabama Board of Medical Examiners. (b) The board may award to an eligible person a loan or loans totaling in value as much as the average in-state tuition and required fees charged at public institutions in Alabama for completing on time a master's degree program for physician assistant studies. But a loan or loans may be awarded only to people who have...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used in this section the following words shall have the meanings ascribed to them as follows: (1) CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited liability company, cooperative, or other legal entity licensed by the Alabama State Licensing Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a. organized and existing under the laws of the State of Alabama, nor b. maintains its principal place of business in the State of Alabama. A nonresident contractor which has maintained a permanent branch office within the State of Alabama for at least five continuous years shall not thereafter be deemed to be a nonresident contractor so long as the contractor continues to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
16-47-80
Section 16-47-80 Contractual agreement of recipients; penalties for breach. (a) Each recipient of a scholarship loan under the provisions of this article shall enter into a contract with the Board of Dental Scholarship Awards whereby he or she agrees to repay the scholarship loan in a manner prescribed by the board not inconsistent with any provision of this article. Breach of contract by the recipient shall make him or her immediately liable for the unpaid balance of the loan and shall constitute a ground for the revocation of his or her certificate or license to practice dentistry in the State of Alabama. In the event of death or total and permanent disability of the recipient to engage in the practice of dentistry, repayment of the loan may be excused by the board. The Attorney General of Alabama, upon request of the Board of Dental Scholarship Awards, shall institute proceedings in the name of the state for the purpose of recovering any amount due the state under the provisions of...
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16-47-79
Section 16-47-79 Repayment of loans. (a) Scholarships extended under subdivisions (1) and (3) of subsection (a) of Section 16-47-78 shall be repaid following graduation either in cash as is provided under subsection (b) or under the terms of a contract to serve in a needy area in Alabama for a term to be specified by the board as provided in subsection (c). Any moneys received from recipients in repayment of a scholarship loan under subsections (b) and (c) shall upon receipt thereof be retained by the Board of Scholarship Awards to be used for funding of future scholarships. The board shall establish a separate fund for these purposes. (b) Scholarship loans to be repaid under this subsection shall be repaid to the Board of Dental Scholarship Awards in full at an interest rate of six percent per annum from the date of graduation from dental school. Payments are to be made annually, the first of which is due one year after the recipient enters the practice of dentistry or one year after...
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16-47-127
Section 16-47-127 Agreement by recipients to practice in certain areas; immediate liability upon default; penalty provisions; proceedings for recovery of amount due; death, disability may excuse repayment. (a) Each recipient of a loan under this division shall enter into an agreement with the Board of Medical Scholarship Awards whereby the recipient agrees to practice in an area as defined in Section 16-47-126. In the event of a default or other breach of contract by the recipient of loans provided under this division, or other termination of contract prior to the completion of the period of medical education and training, the individual shall be liable for immediate repayment of the total principal loan amount plus interest at the rate of eight percent accruing from the date of default or termination and an additional penalty as specified: (1) For default or termination of a loan for one scholastic year, a penalty equal to 20 percent of the total principal amount of the loan. (2) For...
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22-23A-11
Section 22-23A-11 Establishment of dedicated source of revenue by community water system for funding of loan by authority; powers of water system; default; repayment guidelines; project accounts. (a) In order to provide for the funding of the loan by the authority for a project to a community water system, such water system shall establish a dedicated source of revenue to repay only the monies received from the authority and to provide for operation, maintenance and equipment replacement expenses. Such water system is hereby authorized and empowered, any existing statute to the contrary notwithstanding, to do and perform any one or more of the following: (1) To obligate itself to pay to the authority at periodic intervals a sum sufficient to provide bond debt service with respect to the bonds of the authority issued to fund the loan for such project and to pay over such debt service to the account of the project for deposit to the Water Supply Assistance Fund; (2) To levy, collect and...
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16-47-225
Section 16-47-225 Annual report; rulemaking authority; use of funds. (a) The board annually shall report on the condition and accomplishments of the program to the Governor, Lieutenant Governor, Speaker of the House, President Pro-tem of the Senate and the Chairs of the House and Senate Health Committees. The report shall include for the reporting year the locations where participants agreed to serve or where they were serving to repay loans. The report also shall outline the finances of the program. (b) The board shall make reasonable rules and regulations to implement and administer the program. (c) The board shall use any monies it receives from or for the operation of the program, including repayments, interest, and penalties paid because of default or other failure to honor a contract, to fund loans, or to administer the program. (Act 2016-318, §6.)...
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34-21-99
Section 34-21-99 Other requirements and powers of the board. (a) The board annually shall report on the condition and accomplishments of the program to the Governor, Lieutenant Governor, Speaker of the House, President Pro-Tem of the Senate and the Chairs of the House and Senate Health Committees. The report shall include for the reporting year the locations where participants agreed to serve or where they were serving to repay loans. (b) The board shall make reasonable rules and regulations to implement and administer the program. (c) The board shall use any monies it receives from or for the operation of the program, including repayments, interest, and penalties paid because of default or other failure to honor a contract, to fund loans. (Act 2016-353, §1.)...
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