(1) The board may adopt rules to implement the provisions of this part and 17-6-211 (2). Rules adopted by the board may include:
(a) definitions of small- and medium-sized businesses;
(b) a method of committing funds to financial institutions, including guidelines for lead private financial institutions if a consortium of private financial institutions is participating in a loan made pursuant to 17-6-317;
(c) guidelines for graduation clauses for refinancing and early payment of loans made pursuant to 17-6-317;
(d) types of service fees; and
(e) types of investments to be made.
(2) The board may also adopt procedural rules to govern its proceedings.