(a) Funds available for category F shall be distributed in the form of linked deposits on a first come first served basis as completed applications are received and approved by the corporation's board of directors. If a completed application is received by the corporation which exceeds the amount remaining in category F, the corporation may reject the application or fund the linked deposit up to the amount remaining in category F.

(b) The commissioner shall, from time to time, update the IUP to include all approved category F linked loan recipients.