(a) There are hereby established the Virgin Islands Valedictorian and Salutatorian Scholarships to the University of the Virgin Islands, in addition to the scholarship established in chapter 15, section 190u of this title.
(b) Each student graduating from a secondary high school or the Adult Continuing Education Program as Valedictorian or Salutatorian shall automatically be awarded a four (4) year scholarship to the University of the Virgin Islands which shall entitle the student to fees, which for purposes of this section, includes tuition, textbooks and room and board for the duration of the scholarship provided, however, that the student has filed an application with the University no later than June 30th of the year in which he enters the University, and provided further that the student passes the placement tests administered by the University upon entrance to the University. In addition, the student shall receive an annual stipend to cover miscellaneous expenses in an amount to be determined by the Board of Trustees of the University.
(c) The President of the University of the Virgin Islands shall administer the scholarships. The University shall receive an annual appropriation from the Virgin Islands Government in an amount sufficient to fund the scholarship program established under this section.
(d) Each student must maintain a cumulative grade point average of 3.25 and perform a minimum of 10 hours of community service per semester in order to maintain the scholarship. Each student shall provide verification of the completion of the required community service hours during registration at the beginning of each semester. Beginning with the 1998–1999 academic year, the student will be placed on scholarship probation when his cumulative grade point average falls below 3.25. Failure to maintain a 3.25 cumulative grade point average after this probationary period will result in immediate termination of the scholarship.
(e) The student shall accept the scholarship and begin matriculation at the University of the Virgin Islands no later than the fall semester one year after graduation from high school. Any person accepting a scholarship under the provisions of this chapter shall be required to attend the University of the Virgin Islands as a full-time student for the duration of the scholarship. If the student transfers to another college or university, or leaves the University of the Virgin Islands, the scholarship will automatically terminate.
(f) The President may reduce the amount of individual Valedictorian and Salutatorian scholarships to an amount which, when combined with other grants, equals the amount needed for tuition, room and board, books and supplies, fees and stipend at the University of the Virgin Islands as provided by this act.
(g) Any person granted a scholarship under the provisions of this section shall be required, as a prior condition to receiving such scholarship, to execute an agreement or other binding commitment to the effect that he or she will accept employment within the Virgin Islands for three (3) years, or portion thereof, as the person shall have pursued education and training under such scholarship; provided, however, employment is available in a field which bears some relationship to the recipient's course of study. If the recipient fails to comply with the provisions of this subsection, and a position is available in a field which bears some relationship to the recipient's course of study, the scholarship grant will revert to a loan, payable at the interest rates which prevail at the time the scholarship was granted.
(h) Any student receiving a scholarship under the provisions of this section must be a U.S. citizen or a permanent resident of the United States as determined by federal immigration statutes and regulations.