
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC292x]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                    CHAPTER 6A--PUBLIC HEALTH SERVICE
 
               SUBCHAPTER V--HEALTH PROFESSIONS EDUCATION
 
                          Part A--Student Loans
 
           subpart ii--federally-supported student loan funds
 
Sec. 292x. Distribution of assets from loan funds


(a) Distribution after termination of fund

    If a school terminates a loan fund established under an agreement 
pursuant to section 292q(b) of this title, or if the Secretary for good 
cause terminates the agreement with the school, there shall be a capital 
distribution as follows:
        (1) The Secretary shall first be paid an amount which bears the 
    same ratio to such balance in such fund on the date of termination 
    of the fund as the total amount of the Federal capital contributions 
    to such fund by the Secretary pursuant to section 292q(b)(2)(A) of 
    this title bears to the total amount in such fund derived from such 
    Federal capital contributions and from funds deposited therein 
    pursuant to section 292q(b)(2)(B) of this title.
        (2) The remainder of such balance shall be paid to the school.

(b) Payment of proportionate share to Secretary

    If a capital distribution is made under subsection (a) of this 
section, the school involved shall, after the capital distribution, pay 
to the Secretary, not less often than quarterly, the same proportionate 
share of amounts received by the school in payment of principal or 
interest on loans made from the loan fund established pursuant to 
section 292q(b) of this title as was determined by the Secretary under 
subsection (a) of this section.

(July 1, 1944, ch. 373, title VII, Sec. 728, as added Pub. L. 102-408, 
title I, Sec. 102, Oct. 13, 1992, 106 Stat. 2021.)


                            Prior Provisions

    A prior section 728 of act July 1, 1944, was classified to section 
294a of this title prior to the general revision of this subchapter by 
Pub. L. 102-408.
    Another prior section 728 of act July 1, 1944, was classified to 
section 293h of this title prior to renumbering by Pub. L. 94-484.
