(a) The State Board of Education shall develop such policies and rules as may be needed for the proper administration of this subchapter consistent with the need to support and assist education service cooperatives in the delivery of services to school districts and with prudent use of available human and financial resources.
(b) The policies and rules shall include without limitation:
(1) The rules governing the operation of an education service cooperative within appropriate state and federal laws;
(2) Guidelines for settling possible disputes between school districts and in equity or jurisdictional matters relating to shared assets and services;
(3) The obligation of an education service cooperative board of directors for overseeing administrative and program expenditures; and
(4) The fiscal distress status of an education service cooperative under §§ 6-13-1027 — 6-13-1031.