§210D-8 Powers and duties.

241 words·~1 min read·/hi/210d-8

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§210D-8 Powers and duties. The department shall have the necessary powers to carry out the purposes of this chapter, including the following:

(1)With advice from the council, prescribe the qualifications for eligibility of applicants for loans and grants;

(2)With advice from the council, establish preferences and priorities in determining eligibility for financial assistance;

(3)Establish the conditions, consistent with the purpose of this chapter, for the awarding of financial assistance;

(4)Provide for inspection at reasonable hours of facilities, books, and records of a community-based organization that has applied for or has been awarded financial assistance and require the submission of progress and final reports;

(5)Provide loans and grants for community-based economic development activities and community-based enterprises for purposes consistent with this chapter;

(6)Determine the necessity for and the extent of security required in a loan;

(7)Prescribe and provide appropriate management counseling and monitoring of business activities;

(8)Administer the Hawaii community-based economic development special fund;

(9)Include in its budget for subsequent fiscal periods amounts necessary to effectuate the purposes of this chapter;

(10)Participate in loans made to qualified persons by private lenders;

(11)Establish interest rates chargeable by the State for direct and participation loans; and

(12)Adopt rules pursuant to chapter 91 to implement this chapter. [L 1990, c 111, pt of §2; am L 1996, c 192, §8; am L 2009, c 124, §5; am L Sp 2021, c 9, §32]