§ 70-2404. Scholarship award - Set-aside of funds - Additional selection and allocation criteria - Awards to nonresidents.

A.  Scholarships awarded under the Oklahoma State Regents' Academic Scholars Program shall be awarded to all eligible applicants without any limitation on the number of scholarships to be awarded in any year other than the amount of funds available for the scholarship program and the number of eligible applicants.

B.  The Oklahoma State Regents for Higher Education may, at the time a scholarship is awarded to a student, set aside in the Oklahoma State Regents' Academic Scholars Trust Fund funds for the full five-year commitment made to such eligible scholar.  For all academic years, students who have previously received academic scholarships under the provisions of this act and who have continued at all times to fulfill the requirements for eligibility to receive academic scholarships provided in this act shall be given an absolute priority for continued financial support by the Oklahoma State Regents' Academic Scholars Program superior to any students who are applying for such academic scholarships for the first time.

C.  In addition to the qualifications specified in Section 2403 of this title, the Oklahoma State Regents for Higher Education may adopt additional criteria for selection and allocation of awards which may include, but are not limited to, consideration of high school academic performance and personal interviews.  The Oklahoma State Regents for Higher Education shall annually report on the number of former Academic Scholars Program participants who stay in state as compared to those who leave Oklahoma within five (5) years of leaving the Program.  In addition, the Oklahoma State Regents for Higher Education are hereby authorized to determine a maximum number of awards or a maximum amount of funding which may go to nonresident students.  Such maximum limitations shall not exceed twenty-five percent (25%) of the awards or amount of funding in any category provided in paragraph 2 of subsection A of Section 2403 of this title.

Added by Laws 1989, c. 375, § 7, emerg. eff. June 6, 1989.  Amended by Laws 1999, c. 241, § 3, eff. June 1, 1999.