US Laws, Codes, Statutes & Cases

53-4-9. Contents of by-laws [bylaws]

The by-laws [bylaws] may, within the limitations set forth herein provide for:   

A.     the method and terms of admission to membership and the disposal of members' interests on cessation of membership for any reason;   

B.     the time, place and manner of calling and conducting meetings;   

C.     the number or percentage of the members constituting a quorum;   

D.     the number, qualifications, powers, duties, term of office, and manner, time and vote for election, of directors and officers; and the classification, if any, of directors;   

E.     the compensation, if any, of the directors, and the number of directors necessary to constitute a quorum;   

F.     the method of distributing the net savings;   

G.     the various discretionary provisions herein as well as other provisions incident to the purposes and activities of the association.