Texas § GV.487.254 - REQUIRED CONTRACT

§ GV.487.254. REQUIRED CONTRACT

REQUIRED CONTRACT. (a) The department may award a stipend to a physician under this subchapter if the physician enters into a written contract to provide services in a medically underserved area for at least one year for each year that the physician receives the stipend. (b) The contract must provide that if the physician does not provide the required services in the medically underserved area or provides those services for less than the required term, the physician is personally liable to the state for: (1) the total amount of the stipend the physician receives; (2) interest on that total amount for the period beginning on the date the physician signs the contract and ending on the date the physician repays the amount of the stipend computed at a rate equal to the sum of: (A) the auction average rate quoted on a bank discount basis for 26-week treasury bills issued by the United States government, as published by the Federal Reserve Board, for the week preceding the week in which the contract is signed; and (B) five percent; and (3) the state's reasonable expenses incurred in obtaining payment, including reasonable attorney's fees. Added by Acts 2001, 77th Leg., ch. 1424, Sec. 1, eff. Sept. 1, 2001. Amended by: Acts 2009, 81st Leg., R.S., Ch. 112 (H.B. 1918 ), Sec. 50, eff. September 1, 2009.