(a) The department may (1) adopt regulations necessary to carry out its functions under AS 44.29.210 — 44.29.230 and to administer the program required under 42 U.S.C. 300x-4(a), including regulations to establish reasonable fees for services provided, procedures for foreclosure proceedings, and procedures for collecting delinquent accounts;
(2) establish amortization plans for the repayment of loans;
(3) charge and collect the fees established under this subsection; and
(4) contract for the servicing of loans made under AS 44.29.210.
(b) [Repealed, § 28 ch 90 SLA 1991.]