Seven or more natural persons who reside in this state may apply to the director for permission to organize a credit union. The application must include copies of the proposed articles of incorporation and bylaws, and such other information as may be required by the director. The director shall approve or deny a complete application within sixty days of receipt.
[ 1997 c 397 § 5; 1994 c 92 § 177; 1984 c 31 § 5.]