(a) There is created a memorial education revolving loan fund. The fund shall be used to provide education loans to students selected under AS 14.43.250 — 14.43.325. Repayments of a loan shall be deposited into the memorial education revolving loan fund and shall be used to make new loans.
(b) Each memorial education loan, the purpose of which is set out in AS 14.43.250(b), is a separate account in the memorial education revolving loan fund created under (a) of this section.
(c) [Repealed, § 42 ch 85 SLA 2001.]