(a) An individual may apply for a loan under this subchapter on forms prescribed by the Osteopathic Rural Medical Practice Student Loan and Scholarship Board if the individual is:
(1) Accepted for admission to or enrolled in good standing in a medical school in Arkansas in studies that lead to the degree of Doctor of Osteopathic Medicine; and
(2) A bona fide resident of Arkansas.
(b) A graduate of an accredited osteopathic medical school in the United States may apply for the community match income incentive program under this subchapter on forms prescribed by the board so long as the applicant satisfies the criteria set forth in § 6-81-1814.