1. (a) To receive funds, a student must

   1. (1) meet the general eligibility requirements of this chapter,
   2. (2) have completed at least 120 credit hours of college work, including at least 15 hours of accounting, and
   3. (3) sign a written statement confirming his/her intent to take the written examination conducted by the Texas State Board of Public Accountancy for the purpose of granting a certificate of "certified public accountant". Beginning with fall 1997 awards, the student must confirm he or she has not yet taken the CPA examination and does not intend to take the examination prior to May 1998. The student's cumulative grade point average, as determined by the institution, must be equal to or greater than the grade point average required by the institution for graduation.

2. (b) In selecting recipients the program officer shall consider at a minimum the following factors relating to each applicant:

   1. (1) financial need;
   2. (2) scholastic ability and performance as measured by the student's cumulative college grade point average as determined by the institution in which the student is enrolled; and
   3. (3) Texas residency.

Source Note:The provisions of this §22.163 adopted to be effective September 8, 1997, 22 TexReg 8544; amended to be effective February 12, 1998, 23 TexReg 1019; amended to be effective August 19, 2001, 26 TexReg 6020.