In the interpretation and construction of this title and Title 8 of this article:
(1) A reference to a statute or to a regulation issued by a government agency includes the statute or regulation with all amendments and supplements to the statute and any new statute or regulation substituted for such statute or regulation, as in force at the time of application of the provision in which such reference is made, unless the specific language or the context of the reference clearly includes only the statute or regulation as in force on the effective date of this section.
(2) (i) A power of an association provided in this title and Title 8 of this article that is subject to regulation of the Division Director may be exercised, subject to the provisions of this title and Title 8 of this article, in the absence of such regulation.
(ii) A power of an association provided in this title and Title 8 of this article that is subject to approval of the Division Director may not be exercised in the absence of such written approval.