Section 479-A:18 Contents of Bylaws.
The bylaws may provide for the following:
I. The election from among the unit owners of a board of directors, the number of persons constituting the same, and that the terms of at least 1/3 of the directors shall expire annually; the powers and duties of the board; the compensation, if any, of the directors; the method of removal from office of directors; and whether or not the board may engage the services of a manager or managing agent.
II. The method of calling meetings of the unit owners and what percentage, if other than a majority of the unit owners, shall constitute a quorum.
III. The election of a president from among the board of directors who shall preside over the meetings of the board of directors and of the association of unit owners.
IV. The election of a secretary who shall keep the minute book wherein resolutions shall be recorded.
V. The election of a treasurer who shall keep the financial records and books of account.
VI. The maintenance, repair and replacement of the common areas and facilities and payments therefor, including the method of approving payment vouchers.
VII. The manner of collecting from the unit owners their share of the common expenses.
VIII. The designation and removal of personnel necessary for the maintenance, repair and replacement of the common areas and facilities.
IX. The method of adopting and of amending administrative rules and regulations governing the details of the operation and use of the common areas and facilities.
X. Such restrictions on and requirements respecting the use and maintenance of the units and the use of the common areas and facilities, not set forth in the declaration, as are designed to prevent unreasonable interference with the use of their respective units and of the common areas and facilities by the several unit owners.
XI. The percentage of votes required to amend the bylaws.
XII. Other provisions as may be deemed necessary for the administration of the property consistent with this chapter.
Source. 1965, 155:1, eff. Aug. 14, 1965.