The Director shall, before the issuance of any bonds, adopt regulations for the operation of the program, which must include provisions concerning the following:

1.  The maximum aggregate amount of guaranteed funding available to any exporter and the maximum amount of guaranteed funding available for any transaction eligible for guaranteed funding;

2.  The limits on the interest which may be charged for guaranteed funding or for loans to exporters;

3.  The fees which a participating financial institution may charge for making loans to exporters;

4.  The nature and extent of any insurance which an exporter may be required to procure;

5.  The collateral required on loans to exporters;

6.  The terms of and the procedures for repayment on the guaranteed funding or on a loan;

7.  The procedures for:

(a) Making an application for guaranteed funding;

(b) Disbursing the guaranteed funding to a participating financial institution;

(c) Making a claim on the guarantee in the event of a default;

(d) Collecting a loan in the event of a default; and

(e) Qualifying as a participating financial institution; and

8.  The specific standards to be used to determine whether a business has a significant relationship with this state pursuant to paragraph (b) of subsection 3 of NRS 349.760.