[§211D-4]  Rulemaking authority.  (a) The department shall adopt rules relating to the implementation of the programand any other rules necessary to accomplish the purposes of this chapter.  Therules may:

(1)  Provide for criteria under which a certain lineof credit issued by an eligible financial institution to a small ormedium-sized business or nonprofit organization qualifies to participate in theprogram; and

(2)  Authorize a consortium of financial institutionsto participate in the program subject to common underwriting guidelines.

(b)  To qualify for participation in theprogram, a line of credit shall:

(1)  Be an account at a financial institution underwhich the financial institution agrees to lend money to a person from time totime to finance one or more projects, activities, or enterprises that areauthorized by this chapter; and

(2)  Contain the same restrictions, to the extentpossible, that are placed on a capital access loan that is not a line ofcredit. [L 2000, c 290, pt of §2]