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(1) There is created an expendable special revenue fund known as the "Physicians Education Fund" to receive and account for revenue and expenditures for making education available to physicians and surgeons, osteopathic physicians and surgeons, and naturopathic physicians, concerning the requirements of Title 58, Occupations and Professions, division rules, and requirements under Title 58, Chapter 37, Utah Controlled Substances Act, and division rules made under that chapter.
(2) Administrative penalties ordered and collected pursuant to this section shall be deposited in the account.
(3) The fund shall earn interest and all interest earned on account money shall be deposited into the account.
(4) The director, with the concurrence of the board, may make distributions from the fund to make available education and training for physicians and surgeons, osteopathic physicians and surgeons, and naturopathic physicians.
(5) If the balance in the fund exceeds $100,000 at the close of any fiscal year, the excess shall be transferred to the General Fund.
(6) The division shall report on the fund annually to the appropriate appropriations subcommittee of the Legislature.