Any applicant selected by the board of commissioners to receive a scholarship shall enter into a contract with the board, which shall be deemed a contract formed within the state of Louisiana, agreeing to the terms and conditions upon which the scholarship shall be granted to the applicant. The contract shall include the terms and provisions as will execute the full purpose and intent of this scholarship program, including the purpose of providing nurses or allied health professionals who will practice within an area of the hospital district. The form of the contract shall be prepared and approved by the attorney general of this state. The president and chief executive officer, or equivalent, of the hospital or hospital service district shall sign the contract and the applicant shall sign it. The board shall preserve and maintain the contract until the terms are met or satisfied. A duplicate copy shall be transmitted to the applicant.
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