(a) Administrative agreement.

1. (1) The chief executive officer of the eligible institution is responsible for appointing one (1) representative from the financial aid office to act as administrator of the Arkansas Governor's Scholars Program and to receive all communications, forms, etc.
2. (2) This representative is responsible for Governor's Scholars disbursement, completion of all forms and rosters, verification of data, and compliance with all Governor's Scholars Program rules.
3. (3) The institution must comply with the following responsibilities in order to maintain continued eligibility status.

(d) Institutional verification.

1. (1) The institution shall provide certification to the Division of Higher Education each semester after registration, giving the names of the Governor's Scholars who are officially enrolled as full-time students as of the end of the eleventh class day of enrollment.
2. (2) This information is reported on a verification roster.
3. (3) The person responsible for verification of full-time enrollment is the registrar or a member of the registrar's staff.
4. (4) The certifying official is responsible for completing the verification roster twice a year for those schools on the semester system and three (3) times a year for those schools on the quarter system.
5. (5) The verification roster shall be mailed to the financial aid administrator prior to registration for the semester or quarter.
6. (6) The completed and signed Governor's Scholars verification roster shall be returned to the division by the dates specified on the roster.
7. (7) The verification roster is an alphabetical listing by institution of all persons receiving a Governor's Scholars Award for a given academic term.
8. (8) Students who are not enrolled full-time in the current term shall not receive Governor's Scholars funds for that term.

(e) Deadlines for disbursement of funds.

1. (1) All funds must be disbursed within ten (10) days of written receipt of funds.
2. (2) Any outstanding funds not disbursed by these dates must be returned within ten (10) days to the division.

(f) Refund policy.

1. (1) It is the institution's responsibility to notify the division of the:

   1. (A) Name of the person who withdrew;
   2. (B) Date of the withdrawal; and
   3. (C) Refund amount.
2. (2) This information shall be placed on the institution's verification roster before the roster is returned to the division.
3. (3) The institution shall be responsible for the refund amount and shall pay that amount to the division.

(g) Continuing eligibility.

1. (1) It is the responsibility of each institution to complete annually the continuing eligibility roster.
2. (2) This roster shall be mailed to all institutions that have a governor’s scholar enrolled.
3. (3) The continuing eligibility roster shall be returned to the division by the date specified on the roster.
4. (4) The person responsible for completing the continuing eligibility roster is the financial aid administrator.
5. (5) The continuing eligibility roster is an alphabetical listing by institution of all persons receiving a Governor's Scholars Award that attended that institution for the academic year immediately preceding receipt of the continuing eligibility roster.
6. (6) The certifying official must complete the roster by providing the number of hours completed for the previous academic year and the cumulative grade point average achieved for each student listed.

(h) Due diligence.

1. (1) The institution shall exercise due diligence in providing complete, accurate, and timely information as requested by the division for any governor’s scholar or former governor’s scholar.
2. (2) In addition, the institution shall exercise due diligence in complying with all the rules of the Arkansas Governor's Scholars Program.
3. (3) The division shall periodically review the institution's records concerning the Governor's Scholars Program in an effort to exercise its due diligence requirements as a steward of State of Arkansas funds.