The council shall adopt rules necessary to implement the provisions of this chapter, including rules:

1. (1) governing the conduct of council business;
2. (2) establishing application procedures for loans and grants authorized in 90-9-202;
3. (3) establishing application procedures and required documentation for the Montana farmer loan repayment assistance program pursuant to 90-9-504;
4. (4) establishing procedures to be followed by the council in its review process prior to making a loan or grant or providing loan repayment assistance;

5. (5) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including:

   1. (a) any reporting requirements; and
   2. (b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;
6. (6) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;
7. (7) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;
8. (8) governing the deferral or forgiveness of loans and any accrued interest; and
9. (9) establishing other terms and conditions of loans and grants and loan repayment assistance, as necessary, within the requirements and purposes of this chapter. (Terminates June 30, 2029--sec. 16, Ch. 439, L. 2019.)

History: En. Sec. 9, Ch. 284, L. 1989; amd. Sec. 4, Ch. 171, L. 2001; amd. Sec. 4, Ch. 106, L. 2009; amd. Sec. 10, Ch. 439, L. 2019.