(1) FORM. The bylaws of a mutual association shall be approved by the division. The division shall, with the approval of the review board, promulgate rules governing bylaws. (2) FILINGS AND APPROVAL. Duplicate originals of the bylaws and any subsequent amendments thereto shall be filed with and approved by the division. (3) EFFECTIVE DATE. The effective date of bylaws and amendments thereto shall be the date when approved by the division. (4) BYLAWS AVAILABLE TO MEMBERS. Each association shall have its bylaws prepared in convenient form and upon request shall furnish a copy to any member. (5) AMENDMENTS TO BYLAWS. The bylaws of the association may be amended as prescribed therein.
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