(110 ILCS 980/0.01) (from Ch. 144, par. 2700) Sec. 0.01. Short title. This Act may be cited as the Private Medical Scholarship Agreement Act. (Source: P.A. 86-1324.)

(110 ILCS 980/1) (from Ch. 144, par. 2701) Sec. 1. It is the public policy of the State of Illinois to encourage private action to develop the professional medical services offered to people of Illinois residing in rural areas by establishing private organizations, foundations, groups, partnerships, corporations or committees organized to provide assistance through grants or loans to medical students or applicants for admission to medical school and to work with educational institutions to further such goal in any manner including, but not limited to, the recommendation of any applicant for admission. (Source: P.A. 86-999.)

(110 ILCS 980/2) (from Ch. 144, par. 2702) Sec. 2. It shall be lawful for any such organization referred to in Section 1 hereof to condition any loan, grant of assistance or recommendation to any educational institution upon such recipient's executing an agreement to commit not more than 5 years of his or her professional career to the goals specifically outlined within such agreement including a requirement that recipient practice medicine in specifically designated practice and geographic areas. (Source: P.A. 86-999.)

(110 ILCS 980/3) (from Ch. 144, par. 2703) Sec. 3. Any such agreement executed by such an organization and any recipient of loan, grant assistance or recommendation may contain a provision for liquidated damages to be paid for any breach of any provision of the agreement, or any commitment contained therein, together with attorney's fees and costs for the enforcement thereof. Any such covenant shall be valid and enforceable in the courts of this State as liquidated damages and shall not be considered a penalty, provided that such provision for liquidated damages does not exceed $2,500 for each year remaining for the performance of such agreement. This Section shall not be construed as pertaining to or limiting any liquidated damages resulting from scholarships awarded under the Underserved Physician Workforce Act. (Source: P.A. 101-118, eff. 7-22-19.)