Section 11-351-4 - Loan funds(a) The fund is implemented on the basis of an initial legislative appropriation of $250,000.(b) The fund may also accept donations from any legitimate source, including federal and private grants and gifts from private foundations or endowment organizations. Donations will be received by the director for deposit in the fund.(c) All interest and fees collected by the department shall be deposited in the fund to cover the administrative costs associated with operating the fund. All payments received on account of principal shall be credited to the fund to maintain a proper reserve to guarantee sufficient loans.(d) All funds in the student nursing loan program shall lapse into the general fund at the close of business on June 30, 2000.[Eff JUN 25 1992] (Auth: §§ 321-24, 321-25, 321-26) (Imp: §§ 321-24, 321-25, 321-26)