(a) The Arkansas Rural Medical Practice Student Loan and Scholarship Board shall make an annual report to the Governor concerning the activities of the board and shall file a copy of its report with the Legislative Council.
(b)
(1) This report shall include:
(A) The names of the recipients of the loans;
(B) The amount of each loan;
(C) An accounting of the funds granted, on hand, and expended for necessary expenses;
(D) The total amount of funds received during the year from gifts, federal grants, bequests, and devises; and
(E) The amount of loans which, during the year, become scholarships through compliance with the conditions of the loan contracts.
(2) This report shall include the names and addresses, and amount of loans to each person, of those recipients who are in default of repayment obligations.