(1) for a recipient of a Frank O’Bannon award, the amount a recipient is entitled to receive under sections 3 and 4 of this chapter; or

(2) for a recipient of a twenty-first century scholars award, the amount a recipient is entitled to receive under IC 21-12-6.

     (b) The annual award amount may be used in any of the academic terms offered by an eligible institution, including summer terms.

     (c) An eligible institution, in consultation with the recipient, may reserve up to one hundred percent (100%) of a recipient’s annual award amount for use in the summer.

As added by P.L.281-2013, SEC.5.