Rules adopted pursuant to § 6-34.2 shall establish the qualification of an eligible loan, and may establish, but not be limited to, requirements as to the location, age, conditions, and other characteristics of the property. Such rules may further establish the terms, maturities, interest rates, collateral, and other requirements for eligible loans.
(Sec. 31-2.3, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 6, Art. 34, § 6-34.4)