(1) Every approval or rejection by the Director of the Department of Consumer and Business Services given pursuant to this chapter and every communication having the effect of an order or instruction to any association shall be:
(a) In writing, signed by the director;
(b) Mailed to the affected association, addressed to the president at the principal office of the association; and
(c) Presented to the board of directors of such association at its next regular meeting or at a special meeting called for such purpose and noted in the minutes of the meeting.
(2) All notices required by this chapter shall be in writing. All notices issued or required to be issued by the director shall be sent by mail and shall become effective upon deposit of the notice in the mail. [1975 c.582 §116]
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