Section 390.975 - First-year scholarships; number awarded; renewal; duration; limitation on appropriation; award of residual scholarships(1) There shall be awarded for each academic year the number of first-year scholarships that may be financed through available money. Of this number not less than 3 scholarships shall be awarded to residents of each legislative district, and the balance of the scholarships shall be awarded to residents of the state at large.(2) Each scholarship described in subsection (1) shall be renewed by the authority upon application of the student awarded the first-year scholarship without further examination if the applicant remains eligible under sections 4 and 6 and is in compliance with rules promulgated by the authority.(3) A scholarship may be renewed for not more than 10 semesters or its equivalent in trimesters or quarters of undergraduate education, or the equivalent as determined by the authority for less than full-time but more than half-time students.(4) Beginning after October 1, 1988, a scholarship may be awarded for not more than 6 semesters or its equivalent in trimesters, quarters or terms of graduate education, or the equivalent as determined by the authority for less than full-time but more than half-time students. Money shall not be appropriated for purposes of this subsection for any fiscal year unless the amount appropriated under this act for that fiscal year for state competitive scholarships for undergraduate education equals or exceeds the amount appropriated for the state competitive scholarship program for the fiscal year ending September 30, 1987.(5) A residual scholarship shall be awarded to a qualifying applicant who does not receive an initial scholarship award, but who may be eligible for an award later in the year or during an academic year when initial recipients relinquish their scholarship awards.1964, Act 208, Imd. Eff. 5/22/1964 ;--Am. 1966, Act 103, Imd. Eff. 6/22/1966 ;--Am. 1970, Act 65, Imd. Eff. 7/10/1970 ;--Am. 1976, Act 428, Imd. Eff. 1/11/1977 ;--Am. 1979, Act 48, Imd. Eff. 7/7/1979 ;--Am. 1980, Act 500, Eff. 7/1/1981 ;--Am. 1986, Act 270, Eff. 3/31/1987 .