(a) There is established the Winifred Lewis-Garfield Nursing Scholarship Fund that shall be administered by the University of the Virgin Islands for the purpose of providing scholarship grants to University of the Virgin Islands students pursuing studies in nursing.
(b) The University of the Virgin Islands shall adopt rules governing the applications, granting of scholarships, and eligibility requirements, except that only applicants maintaining a 3.0 grade average shall be eligible for a scholarship award under this section.
(c) Scholarships granted under this section may not exceed $3,000 per school year and the sum granted must be applied to the payment of tuition, lodging, board, books, supplies, transportation and other related expenses in connection with the study of nursing.
(d) The sum of $10,000 shall be appropriated during each fiscal year for deposit in the Winifred Lewis-Garfield Nursing Scholarship Fund. Upon appropriation of the funds, the sums shall remain available until expended.