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.