(1) The members of the board shall serve without pay.
(2) The board is hereby vested with full and complete authority and power to sue in its own name any person for any balance, including principal and interest, due and owing the state on any uncompleted contract, which suit shall be initiated by the attorney general, upon resolution adopted by the board.
(3) The board shall submit to the legislature, on or before January 1, a report of expenditures and receipts in the fund. Such report shall include the number of students enrolled at each participating institution, the number of students at each receiving financial assistance and the amount of such assistance, and an estimate of the financial requirements of the program for the next year. The amount of repayment that is in arrears shall also be included.
Sources: Laws, 1975, ch, 507, § 5, eff from and after passage (approved April 8, 1975).
(1) The members of the board shall serve without pay.
(2) The board is hereby vested with full and complete authority and power to sue in its own name any person for any balance, including principal and interest, due and owing the state on any uncompleted contract, which suit shall be initiated by the attorney general, upon resolution adopted by the board.
(3) The board shall submit to the legislature, on or before January 1, a report of expenditures and receipts in the fund. Such report shall include the number of students enrolled at each participating institution, the number of students at each receiving financial assistance and the amount of such assistance, and an estimate of the financial requirements of the program for the next year. The amount of repayment that is in arrears shall also be included.
Sources: Laws, 1975, ch, 507, § 5, eff from and after passage (approved April 8, 1975).
(1) The members of the board shall serve without pay.
(2) The board is hereby vested with full and complete authority and power to sue in its own name any person for any balance, including principal and interest, due and owing the state on any uncompleted contract, which suit shall be initiated by the attorney general, upon resolution adopted by the board.
(3) The board shall submit to the legislature, on or before January 1, a report of expenditures and receipts in the fund. Such report shall include the number of students enrolled at each participating institution, the number of students at each receiving financial assistance and the amount of such assistance, and an estimate of the financial requirements of the program for the next year. The amount of repayment that is in arrears shall also be included.
Sources: Laws, 1975, ch, 507, § 5, eff from and after passage (approved April 8, 1975).
