90-6-106. Adoption of rules. (1) The board shall adopt rules respecting the regulation of borrowers, the admission of occupants in housing developments, the construction of ancillary facilities, and requirements or restrictions necessary to implement this part.
     (2) The board shall adopt rules for the:
     (a) organization, approval, standards, and regulation of housing sponsors and eligible recipients;
     (b) approval, standards, and regulation of lending institutions under this part;
     (c) assessment, collection, and payment of all fees and charges in connection with making, purchasing, and servicing of its bonds and notes, mortgage lending, construction lending, temporary lending, and security purchase programs;
     (d) assessment and collection of fees and charges in connection with its technical, consultative, and project assistance activities;
     (e) determination and regulation of mortgagor and lending institution and their use of funds under this part, sponsor and mortgagor equity definitions and limitations, and housing development costs;
     (f) percentage of housing units or housing developments assisted under this part that are reserved for lower income persons and families and which allows for an economic mixture of residents.

     History: En. 35-505 by Sec. 6, Ch. 461, L. 1975; R.C.M. 1947, 35-505(2), (3).