The bylaws may, within the limitations of this chapter, provide for the: Method and terms of admission to membership and the disposal of members’ interests on cessation of membership for any reason; Time, place, and manner of calling and conducting meetings; Number or percentage of the members constituting a quorum; Number, qualifications, powers, duties, term of office, and manner, time, and vote for election, of directors and officers; and Division or classification, if any, of directors to provide for rotating or overlapping terms; Compensation, if any, of the directors, and the number of directors necessary to constitute a quorum; Method of distributing the net savings; or Various discretionary provisions of this chapter as well as other provisions incident to the purposes and activities and affairs of the association.
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