58-3119. Same; contents.
58-3119
58-3119. Same; contents.The bylaws may provide for the following:
(a) The election from among the apartment owners of a board ofdirectors, the number of persons constituting the same, and that the termsof at least one-third (1/3) of the directors shall expire annually; thepowers and duties of the board; the compensation, if any, of the directors;the method of removal from office of directors; and whether or not theboard may engage the services of a manager or managing agent.
(b) Method of calling meetings of the apartment owners; what percentage,if other than a majority of apartment owners, shall constitute a quorum.
(c) Election of a president from among the board of directors who shallpreside over the meetings of the board of directors and of the associationof apartment owners.
(d) Election of a secretary who shall keep the minute book whereinresolutions shall be recorded.
(e) Election of a treasurer who shall keep the financial records andbooks of account.
(f) Maintenance, repair and replacement of the common areas andfacilities and payments therefor, including the method of approving paymentvouchers.
(g) Manner of collecting from the apartment owners their share of thecommon expenses.
(h) Designation and removal of personnel necessary for the maintenance,repair and replacement of the common areas and facilities.
(i) Method of adopting and of amending administrative rules andregulations governing the details of the operation and use of the commonareas and facilities.
(j) Such restrictions on and requirements respecting the use andmaintenance of the apartments and the use of the common areas andfacilities, not set forth in the declaration, as are designed to preventunreasonable interference with the use of their respective apartments andof the common areas and facilities by the several apartment owners.
(k) The percentage of votes required to amend the bylaws.
(l) Other provisions as may be deemed necessary for the administrationof the property consistent with this act.
History: L. 1963, ch. 329, § 19; July 1.