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(a) There is established the Graduate Medical Education Residency Expansion Board, which shall administer the program under this subchapter and shall be composed of:
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(1) One (1) representative from each medical school in Arkansas;
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(2) Two (2) physician members appointed by the Arkansas State Medical Board, giving preference to physicians who have received rural medical practice loans, community match loans, or income incentives; and
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(3) Two (2) representatives appointed by the Arkansas Hospital Association, Inc.
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(b) The Graduate Medical Education Residency Expansion Board shall:
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(1) Promulgate rules necessary to execute this subchapter, including without limitation rules that address the requirements and are in conformance with the requirements of the Arkansas Administrative Procedure Act, § 25-15-201 et seq.;
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(2) Prescribe forms for and regulate the submission of grant applications;
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(3) Determine the eligibility of applicants;
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(4) Manage, operate, and control all funds and property appropriated or otherwise contributed for this purpose;
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(5) Accept gifts, grants, bequests, or devises and apply them as a part of the program under this subchapter;
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(6) Sue and be sued as the Graduate Medical Education Residency Expansion Board; and
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(7) Accept moneys from federal programs that may be used for furtherance of the purposes of this subchapter.
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(c) The members of the Graduate Medical Education Residency Expansion Board may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq.
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(d) The Division of Higher Education shall administer the Graduate Medical Education Fund under § 19-5-1265 and disburse the funds at the direction of the Graduate Medical Education Residency Expansion Board under this subchapter.
