Subdivision 1. Eligibility; loan amounts. A hospital district may provide loans for the cost of education and living expenses to students who:
(1) meet eligibility criteria established by resolution of the hospital board;
(2) are enrolled in an accredited medical school or health-related educational program; and
(3) agree in writing to practice medicine in, or accept employment with, the hospital district that has provided the loans for a specified period of time.
No loan may exceed $28,000 to any one applicant. It must be paid in annual installments not to exceed $7,000 per year. No loan may be made to a student who is receiving a similar loan under another program authorized by law. Each recipient shall execute a note to the hospital district payable on demand for the principal amount of the loan and for any interest agreed to by the parties. All other terms for fulfilling the obligation and of breach of the obligation must be determined by the parties and must be fully and clearly stated in the loan contract. If the recipient fails to fulfill the obligation to practice or accept employment, the principal and interest, if any, shall be payable according to the terms of the note.
Subd. 2. Special law hospital districts. Subdivision 1 applies to a hospital district organized under special law. A hospital district so organized may spend funds for the purposes authorized by subdivision 1.
1976 c 276 s 1,3; 1984 c 407 s 1; 1987 c 229 art 10 s 1
Structure Minnesota Statutes
Chapters 447 - 450 — Municipal Welfare, Recreation
Chapter 447 — Hospitals, Welfare Activities
Section 447.04 — Charity Bureau.
Section 447.045 — Liquor Dispensary Fund, Community Hospital Appropriation.
Section 447.05 — Hospitals; Charter Cities Of The Third Or Fourth Class.
Section 447.06 — Acquisition Of Sites And Property.
Section 447.10 — Tax Levy For Operating And Maintaining Hospital.
Section 447.11 — Special Fund.
Section 447.13 — Power Granted Additional To Existing Powers.
Section 447.14 — Gifts For Free Medical Dispensaries, Public Libraries.
Section 447.15 — Administration Of Trust; Designation Of Trustees.
Section 447.31 — Creation And Reorganization Of Hospital Districts.
Section 447.32 — Officers And Elections.
Section 447.331 — Student Loan; Medical School, Health-field Program.
Section 447.34 — Payment Of Expenses; Taxation.
Section 447.345 — Temporary Borrowing Authority.
Section 447.36 — Annexation Of Territory.
Section 447.37 — Powers Supplementary.
Section 447.38 — Dissolution: Detachment Of Territory.
Section 447.41 — Establishment And Operation; Withdrawal.
Section 447.42 — Community House; Developmental Disabilities.
Section 447.45 — Bonds For Hospital, Nursing Home, Related Facilities.
Section 447.46 — Revenue Pledged.
Section 447.47 — Leasing Out Hospital, Nursing Home, Related Facilities.
Section 447.48 — Security For Bonds; Pledge Of Credit For Bonds.