Section 6. Powers and Duties of the Agency.--(a) The powers and duties of the agency shall be:
(1) to appoint agents, employees, necessary to the administration of this act, and to prescribe their duties and to fix their compensation within the limitations provided by law;
(2) to accept grants from the Federal Government and any other individual, agency, or government for use in the Volunteer Companies Loan Fund;
(3) to loan money over a term of years, but in no case in excess of 20 years; and
(4) to promulgate such rules and regulations as it deems necessary to carry out its powers and duties under this act.
(b) The powers and duties of the agency may be:
(1) to require security for all loans; and
(2) to specify priority of liens against any facilities, apparatus equipment, ambulances, rescue vehicles, or any equipment purchased by volunteer companies using funds loaned under this act to pay all or any part of the purchase price, as the agency may require by regulation.
(6 amended Feb. 5, 2004, P.L.50, No.5)