(1) The commissioner shall have the authority to promulgate rules, instructions and regulations necessary to the discharge of his duties and powers for the supervision and regulation of savings banks and for the protection of the public investment in savings banks.

(2) Without limiting the generality of subsection (1), rules, instructions and regulations may be promulgated with respect to:

(a) Reserve requirements;

(b) Stock ownership and dividends;

(c) Stock transfers;

(d) Incorporators, stockholders, directors, officers and employees of a savings bank;

(e) Bylaws;

(f) The operation of savings banks;

(g) Deposit accounts, bonus plans and contracts for savings programs;

(h) Loans and loan expenses;

(i) Investments;

(j) Forms and definitions;

(k) Types of financial records to be maintained by savings banks;

(l) Retention periods of various financial records;

(m) Internal control procedures of savings banks;

(n) Conduct and management of savings banks;

(o) Chartering and branching;

(p) Liquidations;

(q) Mergers;

(r) Conversions;

(s) Reports which may be required by the commissioner;

(t) Conflicts of interest;

(u) Service corporations; and

(v) Holding companies.

(3) Any state savings bank may cause any or all of its records in its custody to be reproduced in a format of storage commonly used, whether electronic, imaged, magnetic, microphotographic, or otherwise, and any reproduction so made shall have the same force and effect as the original thereof and be admitted in evidence equally with the original.