Section 90-9-203 - [Effective 7/1/2029] RulemakingThe council shall adopt rules necessary to implement the provisions of this chapter, including rules:
(1) governing the conduct of council business;(2) establishing application procedures for loans and grants authorized in 90-9-202;(3) establishing procedures to be followed by the council in its review process prior to making a loan or grant;(4) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including: (a) any reporting requirements; and(b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;(5) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;(6) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;(7) governing the deferral or forgiveness of loans and any accrued interest; and(8) establishing other terms and conditions of loans and grants, as necessary, within the requirements and purposes of this chapter.Amended by Laws 2019, Ch. 439,Sec. 10, eff. 7/1/2019, terminates 6/30/2029.En. Sec. 9, Ch. 284, L. 1989; amd. Sec. 4, Ch. 171, L. 2001; amd. Sec. 4, Ch. 106, L. 2009.This section is set out more than once due to postponed, multiple, or conflicting amendments.