R434-45-3. Definitions

  The definitions as they appear in Section 26-46a-102 apply. In addition:

  (1) "Applicant" means a physician who submits a completed application and meets the application requirements established by the Department for loan repayment, including a written agreement with a rural hospital to provide matching funds.

  (2) "Approved rural hospital" means a hospital located in a rural county as defined by Section 26-46a-102, who has entered into a written agreement with the recipient to provide matching funds for the program.

  (3) "Committee" means the Rural Physician Loan Repayment Program Advisory Committee created by Section 26-46a-104.

  (4) "Contract year" means a 12 month period beginning with the effective date of the contract between the recipient and the approved rural hospital.

  (5) "Educational expenses" means the cost of allopathic or osteopathic medical education, including books, equipment, fees, materials, reasonable living expenses, supplies, and tuition.

  (6) "Eligible bona fide loan" means a loan used to pay for educational expenses leading to an allopathic or osteopathic medical degree and license in Utah that is:

  (a) A commercial loan made by a bank, credit union, savings and loan association, insurance company, school, or credit institution;

  (b) A governmental loan made by a federal, state, county or city agency;

  (c) A loan made by another person that is documented by a contract notarized at the time of making of the loan, indicative of an arm's length transaction, and with competitive terms and rates as other loans available to students; or

  (d) A loan that the application conclusively demonstrates to the Department is a bona fide loan.

  (7) "Loan repayment contract" means a contract for funds to defray educational loans in exchange for a service obligation at an approved site.

  (8) "Recipient" means an applicant selected to receive a loan repayment.

  (9) "Service obligation" means the required professional services rendered under a loan repayment contract at an approved site for a minimum of two years.