KRS 322.395: Funding -- Assessment -- Cancellation of contract -- Legal action for

recovery of assistance -- Report.

(1) Funding for the Kentucky professional engineer and professional land surveyor

incentive scholarship fund:

(a) Shall be supplied partly by funds received from penalties and fines assessed

by the board pursuant to KRS 322.180;

(b) Shall be provided by an assessment of five dollars ($5) from each professional

engineer and professional land surveyor licensure renewal application fee

payable to the board, the proceeds of which shall be annually allocated to the

Kentucky professional engineer and professional land surveyor incentive

scholarship fund; and

(c) May be provided by the board from its budgeted funds.

(2) (a) The board may cancel any contract entered into under KRS 322.394 if an

applicant or recipient fails to meet the requirements of KRS 322.394 or the

administrative regulations of the board.

(b) Failure to complete the terms of the contract shall subject the applicant to

legal action for the recovery of all assistance provided, along with the

attorney's fees and interest at an annual compound rate of eight percent (8%)

from the date of disbursement from the Kentucky professional engineer and

professional land surveyor incentive scholarship fund.

(3) By August 1 of each year, the board shall submit a report to the Legislative

Research Commission for referral to the Interim Joint Committee on Licensing,

Occupations, and Administrative Regulations relating to the Kentucky professional

engineer and professional land surveyor incentive scholarship fund. The report shall

contain at a minimum the following information for the previous fiscal year:

(a) The number of scholarships provided;

(b) The program of study in which the recipients are enrolled;

(c) The total number of applications;

(d) The total number of scholarship recipients; and

(e) The amount awarded to recipients.