The rules and regulations shall:

1. (1) Prescribe the qualifications for eligibility of applicants for loans.
2. (2) Establish preferences and priorities in determining eligibility for loans.
3. (3) Establish the conditions, consistent with the purposes of this chapter, for the granting or for the continuance of a grant of a loan.
4. (4) Provide for inspection, at reasonable hours, of the plant, books, and records of an enterprise which has applied for or has been granted a loan, and to require the submission of progress and final reports.

[L 1963, c 76, §6; Supp, §98R-6; HRS §210-5]