94- 457 C.M.R. ch. 311, § 8
In the event that an application is rejected by the chief executive officer, the applicant shall have the right to appeal the decision of the chief executive officer to the members, provided that such appeal shall not affect processing of other applications received prior to the notice of appeal. Notice of the appeal, together with a statement of the reasons why the chief executive officer's decision should be reversed or modified, shall be given to the chief executive officer in writing within 20 days after the date the chief executive officer mails the notice of rejection to the applicant. The appeal shall be heard at a meeting of the members. The applicant must be present to support the appeal. The appeal shall be based on the record before the chief executive officer on the date of the rejection. The decision of the chief executive officer shall be final unless the members determine that the rejection by the chief executive officer was arbitrary, capricious or an abuse of discretion, in which event the members may overturn or modify the decision of the chief executive officer and may direct the chief executive officer to take further action with respect to the application. If the chief executive officer's decision is upheld on appeal or in the event no appeal is timely taken by an applicant on the denial of a loan application, the applicant shall not be entitled to submit another application which is not materially and substantially different than the denied application, as determined by the chief executive officer, for a period of six (6) months from the date of the denied application.
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94- 457 C.M.R. ch. 311, § 8