NRS349.815. 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)