The Board of Dental Scholarship awards shall have power and authority to make reasonable rules and regulations not inconsistent with the laws of this state as may be necessary for the regulation of its proceedings and for the discharge of the duties imposed on it. The board shall receive and review all applications for scholarship loans and awards, and for loans awarded under the Alabama Dental Service Program, shall make a careful and thorough investigation of the ability, character, and qualifications of each applicant, and shall be responsible for the further administration of the scholarship loans and awards and of the program, subject to the provisions of this article. Also, the board annually shall report on the condition and accomplishments of the program to the Governor, Lieutenant Governor, Speaker of the House, President Pro-Tem of the Senate and the chairs of the House and Senate health committees. The report shall include for the reporting year the locations where participants agreed to serve, or where dentists were serving, to repay program loans. The report also shall include for the reporting year the number of participating dentists who demonstrated to the board's satisfaction that an average of at least 20 percent of his or her active patients were indigent or covered by Medicaid, and the number of participating dentists who demonstrated to the board's satisfaction that an average of at least 30 percent of his or her active patients were indigent or covered by Medicaid.