(1) An administering entity under contract pursuant to section 26-1-302 may perform all or part of the administrative, eligibility, case management, and claims payment functions relating to the program, including:
(a) Assuring timely payment of grants or requests, including:
(I) Making available information relating to the proper manner of submitting a grant or request for benefits to the program and providing forms upon which submissions shall be made;
(II) Evaluating the eligibility of each grant or request for payment pursuant to guidelines established by the board;
(III) Notifying each applicant, within thirty days after receiving a properly completed and executed proof of grant or request, whether the grant or request is accepted or rejected;
(IV) Ensuring that each accepted grant or request is paid within forty-five days after its acceptance;
(b) Paying grant or request expenses from the moneys in the trust fund; and
(c) Determining the expense of administration and the paid and incurred losses for each year and reporting such information to the board.
(2) The administering entity shall be paid in compliance with policies and procedures established by the board.
(3) If the board does not contract with an administering entity to provide all or part of the services described in this part 3 for persons with traumatic brain injuries, the department shall undertake to provide such services to the best of its ability.