The bylaws may provide: (1) The number of members constituting a quorum. (2) The right of members to vote by proxy or by mail or both, and the conditions, manner, form and effects of such votes; the right of members to cumulate their votes and the prohibition, if desired, of cumulative voting. (3) The number of directors constituting a quorum. (4) The qualifications, compensation and duties and term of office of directors and officers and the time of their election. (5) Penalties for violations of the bylaws.
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