90-9-309. Terms and conditions of loans. (1) The term of any loan may not exceed 8 years.
(2) The amount of any loan may not exceed $100,000 in any 9-month period.
(3) Repayment of a loan is due in full upon dissolution or liquidation of the recipient company.
(a) has unencumbered collateral to secure the full amount of the loan; or
(b) meets other requirements established by rule.
(6) The council may establish other terms and conditions by rule.