54-17-07.1. Advisory board - Rules

54-17-07.1. Advisory board - Rules

The industrial commission shall appoint a six-member advisory board consisting of

representatives of lenders, the residential real estate industry, the mobile home and

manufactured housing industry, and homeowners and buyers, and in consultation with such

board may adopt rules and regulations for the conduct of its housing finance program which

may, among other matters, establish requirements for the type and purchase price of dwelling

units and multifamily facilities eligible to be financed, the income limits for eligible low or

moderate income persons or families, the interest rates and other terms of mortgage loans to be

financed, requirements relating to federal or private mortgage insurance or guarantees, and the

general terms and conditions for the issuance and security of housing revenue bonds to be

issued.