[§514D-2]  Powers; rulemaking.  In addition to any other powers authorized by law, the authority may:

     (1)  Contract with any community development financial institution for services, including servicing or administering loans pursuant to this part; and

     (2)  Adopt rules pursuant to chapter 91 to effectuate this chapter, including but not limited to rules relating to:

          (A)  Determinations of any other maintenance or repairs that qualify for financing or refinancing under this chapter;

          (B)  The establishment of interest rates chargeable by the authority for direct loans under this part and by the participating community development financial institutions for loans under part II;

          (C)  The establishment of restrictions on the terms, maturities, collateral, and other requirements not inconsistent with this part;

          (D)  Procedures for validating a qualified condominium association's compliance with the obligation to increase its replacement reserves balance;

          (E)  Determinations of eligibility of a community development financial institution to participate in the condominium loan loss reserves program;

          (F)  Eligibility participation criteria for loans issued by an eligible community development financial institution to a qualified condominium association; and

          (G)  The authorization of a single community development financial institution or a consortium of community development financial institutions to participate in the condominium loan loss reserves program subject to condominium loan loss reserves program guidelines. [L 2025, c 296, pt of §19]