noun
membership agreement; terms and conditions for members
Refers to the formal rules or contract that members must agree to, such as for a credit card, online service, or club.
クレジットカードを申し込む前に、会員規約をよくお読みください。
Please read the membership agreement carefully before applying for a credit card.
利用規約 is a broader 'terms of use' for a service, while 会員規約 specifically governs the relationship with registered members.
Compound of 会員 (member) and 規約 (rules, agreement).