(1) The department may enter into an agreement with an agent designated under sub. (2) to allow the designated agent to do any of the following: (a) Award grants and loans under s. 16.303 (1) and (2) subject to the approval of the department. (b) Disburse the funds for grants and loans to persons or families of low or moderate income on terms approved by the department. (c) On terms approved by the department, administer and disburse funds from a grant or loan under s. 16.303 on behalf of the recipient of the grant or loan. (2) The department may designate any of the following as agents: (a) The governing body of a county, city, village or town. (b) The elected governing body of a federally recognized American Indian tribe or band in this state. (c) A housing authority. (d) A nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17). (e) A cooperative organized under ch. 185 or 193, if the articles of incorporation, articles of organization, or bylaws of the cooperative limit the rate of dividend that may be paid on all classes of stock. (f) A religious society organized under ch. 187. (g) An organization operated for profit.
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