Appraisers to be Approved

No loan shall be made upon the appraisement of, nor shall compensation for any appraisement be paid to, any appraiser, officer or member of any committee, who shall not have been first approved in writing by the board of directors for such association. Such approval may be subject to such limitations as may be provided by the board, and may be revoked at any time, notice thereof being given to the Commissioner.