1-16H-16. Promulgation of rules.

The authority may, pursuant to chapter 1-26, promulgate rules necessary to regulate the authority's affairs, to carry into effect the powers and purposes of the authority, and to conduct its business, including rules to:

(1)    Establish application procedures for grants and loans from the authority;

(2)    Establish eligibility criteria for such grants or loans;

(3)    Govern the use of proceeds of such grants or loans;

(4)    Establish criteria for the terms and conditions upon which such grants or loans shall be made, including the security, if any, that may be required for such loans; and

(5)    Establish criteria for the lease or other use of any real or personal property owned by the authority, or the placement of experiments in any facility owned or controlled by the authority.

Source: SL 2004, ch 15, § 16.