Each scholarship is for a period of one academic year. The scholarship may be renewed annually until the award recipient has received four annual scholarship awards or until the student graduates from a four-year institution, whichever is earlier. An award recipient may use the award at a two-year institution until he or she receives two annual scholarship awards. In no case shall a student receive more than four annual awards.

[7/15/98; 5.7.9.9 NMAC - Rn, 5 NMAC 7.9.9, 8/30/2007]