| (a) Each Eligible Institution shall certify compliance
with statute and this subchapter and enter into a biennial Participation
Agreement in order to receive funds under this Program.
(b) Upon request by an Eligible Institution throughout
the academic year, the Coordinating Board shall forward to each participating
eligible institution a portion of its allocation of funds for timely
disbursement to Research Scholars. Each participating eligible institution
shall have until the close of business on August 1, or the first working
day thereafter if it falls on a weekend or holiday, to encumber Program
funds from their allocation. After that date, an institution may lose
any funds in the current fiscal year not yet drawn down from the Coordinating
Board for timely disbursement to Scholars. Funds released in this
manner are deemed returned to the Coordinating Board.
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