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Code · U.S. Code · Title 42 - THE PUBLIC HEALTH AND WELFARE · CHAPTER 6A— PUBLIC HEALTH SERVICE · SUBCHAPTER V— HEALTH PROFESSIONS EDUCATION · § 292x

§ 292x. Distribution of assets from loan funds

287 words·~1 min read·/usc/title-42/section-292x

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Distribution after termination of fund If a school terminates a loan fund established under an agreement pursuant to section 292q(b) of this title, or if the Secretary for good cause terminates the agreement with the school, there shall be a capital distribution as follows:
(1)The Secretary shall first be paid an amount which bears the same ratio to such balance in such fund on the date of termination of the fund as the total amount of the Federal capital contributions to such fund by the Secretary pursuant to section 292q(b)(2)(A) of this title bears to the total amount in such fund derived from such Federal capital contributions and from funds deposited therein pursuant to section 292q(b)(2)(B) of this title.
(2)The remainder of such balance shall be paid to the school.
(b)Payment of proportionate share to Secretary If a capital distribution is made under subsection (a), the school involved shall, after the capital distribution, pay to the Secretary, not less often than quarterly, the same proportionate share of amounts received by the school in payment of principal or interest on loans made from the loan fund established pursuant to section 292q(b) of this title as was determined by the Secretary under subsection (a).
(July 1, 1944, ch. 373, title VII, § 728, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2021.)
Connections2 cite this · traces to 2
6 references not yet in our index
  • July 1, 1944, ch. 373
  • Pub. L. 102–408, title I, § 102
  • 106 Stat. 2021
  • Pub. L. 102–408
  • section 293h of this title
  • Pub. L. 94–484
Citation graph
cites case law
§ 292x
Distribution of assets from loan funds
Stat.×1
U.S.C.×1
U.S.C.§ 292q
U.S.C.§ 294a
ActJuly 1, 1944, ch. 373
Pub. L.Pub. L. 102–408, title I, § 102
Stat.106 Stat. 2021
Pub. L.Pub. L. 102–408
Citesection 293h of this title
Cites 8 · showing 7Cited by 2 across 2 sources
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