In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division shall make rules establishing: (1) form, content, and procedure for loan and grant applications; (2) criteria and procedures for prioritizing loan and grant applications; (3) requirements and procedures for securing loans and grants; (4) procedures for making loans; (5) procedures for administering and ensuring repayment of loans, including late payment penalties; and (6) procedures for recovering on defaulted loans.
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