| (a) No payment shall be made to any scholar until he or she has executed a promissory note payable to the fund for the full amount of any authorized scholarship plus interest and other fees. The scholar must execute a commitment to teach full-time in a public or private nonprofit preschool, elementary, or secondary school in any state or teach children with disabilities or with limited English proficiency on a full-time basis in a private nonprofit institution. The original of such executed promissory note and commitment to teach shall be forwarded immediately to the commissioner. (b) For the purpose of any contract executed by the scholar, the defense that he or she was a minor at the time he or she executed a promissory note shall not be available to him or her in any action arising on said note.
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