(1)    Form. The bylaws of a stock association shall be approved by the division. The division shall, with the approval of the review board, promulgate rules governing bylaws.

   (2)   Filing and approval. Duplicate originals of the bylaws and amendments thereto shall be filed with and approved by the division.

   (3)   Effective date. The effective date of bylaws and subsequent amendments thereto shall be the date on which such bylaws or amendments are approved by the division.

   (4)   Bylaws available to stockholders. Each stock association shall have its bylaws in convenient form and upon request shall furnish a copy to any stockholder.

   (5)   Amendment to bylaws. The bylaws of the association may be amended as prescribed in the association’s bylaws or articles of incorporation.