The Office shall adopt regulations to carry out the provisions of NRS 414.400 to 414.480, inclusive. The regulations must include, without limitation:

1. 1. The procedures by which an eligible recipient may apply for a loan from the Account; and

2. 2. The criteria for an eligible recipient to receive a loan from the Account, including, without limitation, a requirement for the eligible recipient to demonstrate:

   1. (a) The need for the loan;
   2. (b) The ability of the eligible recipient to repay the loan over a fixed term; and
   3. (c) That the eligible recipient has the technical, managerial and financial ability to comply with any applicable requirement of the STORM Act.

(Added to NRS by 2025, 1770)