[§304A-2277] Professional student exchange program revolving fund. (a) There is established a professional student exchange program revolving fund to be administered and expended by the Hawaii commission.
(b) The following moneys shall be deposited into the revolving fund:
(1) Principal and interest payments received as repayment of financial support from former or current participants of the professional student exchange program, pursuant to section 304A‑3209; and
(2) Interest earned or accrued on moneys in the revolving fund.
(c) Moneys in the revolving fund shall be expended to:
(1) Support the professional student exchange program's activities, including the provision of financial support to participants at Western Interstate Commission for Higher Education receiver institutions; and
(2) Enforce the collection of delinquent obligations. [L 2012, c 137, pt of §1; am L 2015, c 106, §18]
Pursuant to §23G-15, this section:
(1) Enacted as an addition to part VII, subpart D, was redesignated to this part; and
(2) Was renumbered from §304A-2179.