[§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]

Revision Note

  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.