Section 349.815 - Regulations for operation of program The Director shall, before the issuance of any bonds, adopt regulations for the operation of the program, which must include provisions concerning the following:
1. The maximum aggregate amount of guaranteed funding available to any exporter and the maximum amount of guaranteed funding available for any transaction eligible for guaranteed funding;2. The limits on the interest which may be charged for guaranteed funding or for loans to exporters;3. The fees which a participating financial institution may charge for making loans to exporters;4. The nature and extent of any insurance which an exporter may be required to procure;5. The collateral required on loans to exporters;6. The terms of and the procedures for repayment on the guaranteed funding or on a loan;7. The procedures for: (a) Making an application for guaranteed funding;(b) Disbursing the guaranteed funding to a participating financial institution;(c) Making a claim on the guarantee in the event of a default;(d) Collecting a loan in the event of a default; and(e) Qualifying as a participating financial institution; and8. The specific standards to be used to determine whether a business has a significant relationship with this state pursuant to paragraph (b) of subsection 3 of NRS 349.760.Added to NRS by 1985, 2017Added to NRS by 1985, 2017