(a)

1. (1) If an alternate on the waiting list for acceptance to an osteopathic medical school in Arkansas demonstrates a willingness to enter into an osteopathic rural medical practice loan contract and meets the requirements of 6 CAR § 407-104(d), the applicant shall be moved to the top of the waiting list upon entering into an osteopathic rural medical practice student loan contract.
2. (2) The priority on the waiting list for an alternate who enters into a loan contract shall be determined by the date and time such an alternate enters into the contract.

(b) An osteopathic medical school in Arkansas shall:

1. (1) Track graduates who were recipients of loans under this part for the length of their contractual obligations; and
2. (2) Report to the Legislative Council by October 1 of each even-numbered year regarding the compliance of those graduates with the terms of their contracts.