Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 604 - OSTEOPATHIC LOAN PROGRAM › Section 457-604-I - Definitions

Current through 2024-29, July 17, 2024
A. Reference to Statutory Definitions.
				Certain terms used in this rule which are defined in the Finance Authority of
				Maine Act,
				 10 M.R.S.A.
				§961 et seq., shall have the meanings
				set forth in the Act, unless clearly specified otherwise or unless the context
				clearly indicates otherwise.
B.
				Defined Terms
1. Annual Report. "Annual
				report" means a report submitted annually by a loan recipient to the Authority
				on a form prepared by the Authority,, containing such information as the
				Authority deems necessary or appropriate for the effective administration of
				the program. Acceptance of a loan by a recipient constitutes the agreement of
				the recipient to submit such annual report.
2. Authority. "Authority" means the Finance
				Authority of Maine.
3. Chief
				Executive Officer. "Chief executive officer" means the chief executive officer
				of the Authority or any employee working under the supervisory control of the
				chief executive officer.
4.
				Conclusion of Professional Education. "Conclusion of professional education"
				means completion of graduate school, post-graduate programs, and/or obligated
				service.
5. First Time Applicant.
				"First Time Applicant" means an applicant receiving a loan for the first time.
				A person who, receives a loan after previously applying for and being denied a
				loan shall be a First Time Applicant.
6. Indebtedness. "Indebtedness" means the
				total amount of money borrowed by the loan recipient from the Osteopathic Loan
				Fund and any interest accrued thereon.
7. Notarized. "Notarized" means having
				appeared and made oath or affirmation as to the truth of the contents of any
				document or form submitted to the Authority pursuant to this rule, before a
				person authorized to administer oaths.
8. Obligated service. "Obligated service"
				means
a. An Armed Forces service obligation
				incurred in return for financial assistance provided during undergraduate and
				graduate education;
b. An
				obligation incurred for internship or residency training in the Armed Forces of
				the United States;
c. An obligation
				for compulsory national service required by an Act of Congress; or
d. An obligation to perform public health
				service.
9. Postgraduate
				programs. "Postgraduate programs" means continuing education in a classroom,
				laboratory, clinical or practice setting enhancing the applicant's professional
				capabilities including an internship in an accredited rotating internship,
				residency leading to board eligibility in a specialty, a preceptorship in an
				accredited nonhospital based postdoctoral program in which the preceptee works
				with a certified specialist in a clinic in a program leading to board
				eligibility in a specialty and fellowships leading to board eligibility in a
				specialty.
10. Repayment Period.
				"Repayment period" means the period of time following completion of
				professional education or upon withdrawal from school during which the student
				will repay either through return service or cash repayment the amount of money
				owed to the Authority.
11.
				Resident. "Resident" means a person who has resided in the State for a minimum
				of three years for other than education purposes.
12. Return Service. "Return Service" means
				service of a loan recipient which gives rise to forgiveness of any portion of
				the indebtedness.
13. Underserved
				Area. "Underserved Area" means an underserved geographic area, underserved
				specialty area, underserved population group or any combination of these in the
				State as designated by the Department or Agency of the State authorized to make
				such designation.