The Board of Regents shall promulgate rules under chapter 1-26 to:
(1) Establish the minimum credit hours required for full-time enrollment;
(2) Establish the time and manner in which a student may request an exception to the continuous semester enrollment requirement;
(3) Establish the manner in which academic course and grade equivalents are determined in the case of transfer students;
(4) Establish the time and manner in which applications for scholarships must be submitted and reviewed;
(5) Establish the time and manner in which students are to be notified of decisions pertaining to the award of an opportunity scholarship; and
(6) Establish the time and manner in which students may contest any decision regarding the award or continuance of a scholarship.
No rule promulgated in accordance with this section may impose greater requirements or consequences than those imposed on students who are awarded a scholarship under §§ 13-55-31 to 13-55-35, inclusive.