Sec. 10. The corporation shall do the following:
(1) Establish and implement the policies and procedures to be used in the administration of this chapter.
(2) Enter into contracts and guarantee agreements, as necessary, with approved lenders, state governmental agencies, corporations, and United States governmental agencies, including agreements for federal insurance of losses resulting from death, default, bankruptcy, or total and permanent disability of borrowers.
(3) Establish criteria for awarding loans and loan guarantees from the fund, and require that any loan or loan guarantee under this chapter be disbursed and repaid in the manner that the corporation prescribes.
(4) Accept, use, and disburse federal funds made available to the corporation by the federal government for the purposes described in this section.
(5) Take, hold, and administer, on behalf of any loan program and for purposes of this chapter, property and money and the interest and income derived from the property and money either absolutely or in trust.
(6) Accept gifts, grants, bequests, devises, and loans for purposes of this chapter.
(7) Adopt bylaws to implement this chapter.
As added by P.L.4-2005, SEC.34.
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