§ 297e. Distribution of assets from loan funds
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/usc/title-42/section-297eA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Capital distribution of balance of loan fund If a school terminates a loan fund established under an agreement pursuant to section 297a(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 297a(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 297a(b)(2)(B) of this title.
(2)The remainder of such balance shall be paid to the school.
(b)Payment of principal or interest on loans If a capital distribution is made under subsection (a), the school involved shall, after such 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 under section 297a(b) of this title as determined by the Secretary under subsection (a).
(c)Payment of balance of loan fund
(1)Within 90 days after the termination of any agreement with a school under section 297a of this title or the termination in any other manner of a school’s participation in the loan program under this part,1 such school shall pay to the Secretary from the balance of the loan fund of such school established under section 297a of this title, an amount which bears the same ratio to the balance in such fund on the date of such termination as the total amount of the Federal capital contributions to such fund by the Secretary pursuant to section 297a(b)(2)(A) of this title bears to the total amount in such fund on such date derived from such Federal capital contributions and from funds deposited in the fund pursuant to section 297a(b)(2)(B) of this title. The remainder of such balance shall be paid to the school.
(2)A school to which paragraph
(1)applies shall pay to the Secretary after the date on which payment is made under such paragraph and not less than quarterly, the same proportionate share of amounts received by the school after the date of termination referred to in paragraph
(1)in payment of principal or interest on loans made from the loan fund as was determined for the Secretary under such paragraph.
(July 1, 1944, ch. 373, title VIII, § 839, formerly § 826, as added Pub. L. 88–581, § 2, Sept. 4, 1964, 78 Stat. 916; amended Pub. L. 89–751, § 6(d), Nov. 3, 1966, 80 Stat. 1235; Pub. L. 90–490, title II, § 222(f), Aug. 16, 1968, 82 Stat. 785; Pub. L. 92–52, § 3(b), July 9, 1971, 85 Stat. 145; Pub. L. 92–158, § 6(d)(1), Nov. 18, 1971, 85 Stat. 478; renumbered § 839 and amended Pub. L. 94–63, title IX, §§ 936(d), 941(h)(1), (2), (4)(B), (i)(1), (5), July 29, 1975, 89 Stat. 363, 365, 366;
Pub. L. 96–32, § 7(j), July 10, 1979, 93 Stat. 84; Pub. L. 96–76, title I, § 109(c), Sept. 29, 1979, 93 Stat. 580; Pub. L. 97–35, title XXVII, § 2757(d), Aug. 13, 1981, 95 Stat. 931; Pub. L. 99–92, § 8(f), Aug. 16, 1985, 99 Stat. 399; Pub. L. 100–607, title VII, § 713(i), Nov. 4, 1988, 102 Stat. 3161; Pub. L. 102–408, title II, § 208(b), Oct. 13, 1992, 106 Stat. 2075; Pub. L. 105–392, title I, § 133(e), Nov. 13, 1998, 112 Stat. 3577; Pub. L. 111–148, title V, § 5310(b)(5), Mar. 23, 2010, 124 Stat. 631.)
Connections15 cite this · traces to 3
Cited by 15 sections · top 14
statutes-at-large
- Public Law 89–750
- Public Law 96–32
- Public Law 92–51
- Public Law 90–490
- Public Law 92–158
- Public Law 105–392To amend the Public Health Service Act to consolidate and reauthorize health professions and minority and disadvantaged health education programs, and for other purposes
- Public Law 97–35To provide for reconciliation pursuant to section 301 of the first concurrent resolution on the budget for the fiscal year 1982
- Public Law 99–92To amend the Public Health Service Act to extend the programs of assistance for nurse education
- Public Law 96–76To amend title VIII of the Public Health Service Act to extend through fiscal year 1980 the program of assistance for nurse training, and for other purposes
- Public Law 94–63To amend the Public Health Service Act and related health laws to revise and extend the health revenue sharing program, the family planning programs, the community mental health centers program, the program for migrant health centers and community health centers, the National Health Service Corps pr
- Public Law 102–408To amend the Public Health Service Act to revise and extend certain programs relating to the education of individuals as health professionals, and for other purposes
- Public Law 111–148Entitled The Patient Protection and Affordable Care Act
- Public Law 100–607To amend the Public Health Service Act to establish certain health programs, to revise and extend certain health programs, and Tor other purposes
62 references not yet in our index
- 1
- July 1, 1944, ch. 373
- Pub. L. 88–581, § 2
- 78 Stat. 916
- Pub. L. 89–751, § 6(d)
- 80 Stat. 1235
- Pub. L. 90–490, title II, § 222(f)
- 82 Stat. 785
- Pub. L. 92–52, § 3(b)
- 85 Stat. 145
- Pub. L. 92–158, § 6(d)(1)
- 85 Stat. 478
- Pub. L. 94–63, title IX
- 89 Stat. 363
- Pub. L. 96–32, § 7(j)
- 93 Stat. 84
- Pub. L. 96–76, title I, § 109(c)
- 93 Stat. 580
- Pub. L. 97–35, title XXVII, § 2757(d)
- 95 Stat. 931
- Pub. L. 99–92, § 8(f)
- 99 Stat. 399
- Pub. L. 100–607, title VII, § 713(i)
- 102 Stat. 3161
- Pub. L. 102–408, title II, § 208(b)
- 106 Stat. 2075
- Pub. L. 105–392, title I, § 133(e)
- 112 Stat. 3577
- Pub. L. 111–148, title V, § 5310(b)(5)
- 124 Stat. 631
- Pub. L. 105–392, title I, § 123(2)
- 112 Stat. 3562
- Pub. L. 111–148
- Pub. L. 105–392, § 133(e)(1)(A)
- Pub. L. 105–392, § 133(e)(1)(B)
- Pub. L. 105–392, § 133(e)(2)
- Pub. L. 102–408, § 208(b)(2)
- Pub. L. 102–408, § 208(b)(1)
- Pub. L. 100–607, § 713(i)(1)(A)
- Pub. L. 100–607, § 713(i)(1)(B)
+ 22 more
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§ 297e
Distribution of assets from loan funds
Stat.×14
U.S.C.×1
Cite1
ActJuly 1, 1944, ch. 373
Pub. L.Pub. L. 88–581, § 2
Stat.78 Stat. 916
Pub. L.Pub. L. 89–751, § 6(d)
Cites 65 · showing 8Cited by 15 across 2 sources