The board shall:

     (1) Purchase GET units to be owned and held in trust by the board, for the purpose of scholarship awards as provided for in this section;

     (2) Distribute scholarship funds, in the form of GET units or through direct payments from the GET ready for math and science scholarship account, to institutions of higher education on behalf of eligible recipients identified by the program administrator;

     (3) Provide the program administrator with annual reports regarding enrollment, contact, and graduation information of GET ready for math and science scholarship recipients, if the recipients have given permission for the board to do so;

     (4) Collect repayments from former scholarship recipients who do not meet the eligibility criteria or work obligations;

     (5) Establish rules for scholarship repayment, approved leaves of absence, deferments, and exceptions to recognize extenuating circumstances that may impact students; and

     (6) Provide information to school districts in Washington, at least once per year, about the GET ready for math and science scholarship program.

[2007 c 214 § 7.]