17-5-1521. Adoption of rules.
179 words·~1 min read·
/mt/title-17/chapter-5/part-15/17-5-1521·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
17-5-1521 . Adoption of rules.
(1)The board shall adopt rules to establish:
(a)procedures for soliciting and evaluating applications and for notifying the local government of the application for purposes of complying with 17-5-1526 and 17-5-1527 ; and
(b)a system for evaluating applications, considering the following criteria:
(i)the applicant's net worth;
(ii)the applicant's training and experience in the industry involved in the proposed project;
(iii)the applicant's prospects for succeeding in the proposed project;
(iv)the degree to which the new or increased business resulting from the loan will meet the objectives of 17-5-1502 ; and
(v)any other factors the board may prescribe.
(2)The board shall adopt rules for the:
(a)organization, approval, standards, and regulation of project applicants;
(b)approval, standards, and regulation of financial institutions under this part;
(c)assessment, collection, and payment of all fees and charges in connection with making, purchasing, and servicing of its bonds and notes, mortgage lending, construction lending, temporary lending, and guaranty programs; and
(d)such other matters as the board considers necessary or desirable.