(a) Application for formation of an empire zone capital corporation; its board of directors and management; and procedures for making, servicing and monitoring its investments, shall be made on a form prescribed by the commissioner which shall include, but not be limited to:

1. (1) identification of applicant;
2. (2) narrative description of the geographic area the proposed zone capital corporation includes;
3. (3) names and resumes of proposed zone capital corporation board of directors, management, and investment committee;
4. (4) proposed articles of incorporation and proposed bylaws for the zone capital corporation;
5. (5) proposed zone capital corporation management plan; and

6. (6) description of proposed investment procedures, including:

   1. (i) procedures for originating and servicing investments and loans;
   2. (ii) procedures for ensuring meaningful participation by women and minority owned businesses and locally owned businesses; and

   3. (iii) underwriting criteria.

      An Opinion of Counsel must accompany any information supplied by a proposed zone capital corporation regarding procedures for originating and servicing investments and loans and § 13.3 underwriting criteria. An affirmation of facts must accompany any information supplied in an application for purposes of securing the approvals referenced in subdivision (b) of this section.