- (a) The board of directors shall establish procedures for the review and approval of applications for membership in the credit union.
- (b) Each month the board of directors shall review a list of applications for membership acted on during the preceding month.
- (c) If an application for membership is denied, the reasons for the denial shall be furnished to the applicant on request.
- (d) The board of directors may appoint a membership officer from the members of the credit union or the executive committee of the board of directors to review applications for membership. A treasurer, assistant treasurer, or loan officer may not review applications for membership.