(1) All bylaw amendments must be submitted to the office. The office shall approve or disapprove bylaw amendments within 60 days after receipt. The office shall approve the proposed bylaw amendment unless it finds that the amendment: (a) Is not in the best interest of the membership; (b) Is not in accord with sound credit union practices; (c) Exposes the assets of the credit union to unnecessary risks; or (d) Is not in compliance with applicable statutes or rules. (2) The commission may, by rule, allow certain bylaw amendments that are ministerial in nature to become effective immediately upon filing with the office.
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