The authority shall adopt rules, pursuant to its own procedures, relative to:
I. The conduct of its business.
II. The selection and maintenance of eligible lenders.
III. The type of security it shall demand of eligible borrowers.
IV. A schedule of fees to be charged for the issuance of certificates of guarantee or other services.
V. The term of the loans guaranteed pursuant to this subdivision.
VI. Such other matters as are necessary to carry out the powers and duties of the authority under this subdivision.