Officer candidate training program: naval aviators; retention or transfer to Reserve

§ 6908. Officer candidate training program: naval aviators; retention or transfer to Reserve (a) During the second quarter of each calendar year, the Secretary of the Navy shall examine the record of each officer appointed under section 6906 of this title who— (1) in that year will have the first anniversary of the acceptance of his appointment; and (2) applies for retention as a permanent officer before that first anniversary, but not later than March 31 of that year. (b) From among the officers whose records are so examined the Secretary shall select for retention as many as he considers necessary. The appointment of each officer not selected shall be terminated before July 1 of the calendar year of the first anniversary of the acceptance of his appointment, or not later than that anniversary if it occurs after June 30. (c) The appointment of each officer on the active list of the Navy or on the active list of the Marine Corps appointed under section 6906 of this title who does not apply for retention under this section shall 425 be terminated not later than the first anniversary of the acceptance of his appointment. (d) A person who accepts an appointment in a commissioned grade in the Naval Reserve or the Marine Corps Reserve when his regular appointment is terminated under this section may apply for retainer pay. Such an officer may be paid retainer pay at the rate of $100 for each calendar month, or part thereof, that he attends an accredited college or university as a full-time student, if his instruction in the college or university begins not later than a date fixed by the Secretary. However, no officer may be paid more than $2,000 under this section.