349.815 - Regulations for operation of program.
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; and
8. 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, 2017)