Each application for an initial certificate of authority submitted by a foreign credit union must be filed with the Commissioner on a form prescribed by him or her and must include: 1. A copy of the instrument or authority by which the credit union was created and a copy of its bylaws. 2. A statement of its membership, if not contained in its bylaws. 3. A copy of the most recent report submitted by the credit union to the authorized officer of the state in which it was organized. 4. Any other information required by the Commissioner. 5. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if the applicant otherwise withdraws the application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
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