(a) Each Vermont Honor Scholarship shall be an equal amount and no less than $1,000.00 as determined by the Board.

(b) Each secondary school, or a border school serving Vermont secondary school students, may nominate a senior for a Vermont Honor Scholarship.

(c) The Scholarship shall be disbursed to the approved postsecondary education institution at which the recipient enrolls. (Added 1965, No. 198, § 6(d), (e); amended 1999, No. 24, § 4, eff. May 19, 1999; 2003, No. 86 (Adj. Sess.), § 20.)