Section 6508 - Bylaws, rules and regulations(a) General rules and regulations.--Within 60 days of its appointment and before the acceptance of the membership of any associations, the board of directors shall promulgate, subject to the approval of the Secretary of Banking, such bylaws, rules and regulations as may be necessary and proper to carry out the provisions of this act and as are not inconsistent with this act. Thereafter, the bylaws, rules and regulations so adopted may be amended or revoked by the board of directors and will, upon approval of the Secretary of Banking become effective upon their adoption. The rules and regulations shall establish a limit on the amount of insurance which may be provided for each separate savings account of an association; and this limit shall be the amount of prevailing insurance available from the Federal Savings and Loan Insurance Corporation or its successor instrumentality from time to time.(b) Internal rules and regulations.--The board of directors shall have the power to adopt such bylaws, rules and regulations which may be necessary for the internal operations of the corporation.1979, April 6, P.L. 17, No. 5, § 8, effective in 60 days.