499B.15 - CONTENTS OF BYLAWS.
499B.15 CONTENTS OF BYLAWS. The bylaws must provide for at least the following: 1. The form of administration, indicating whether this shall be in charge of an administrator or of a board of administration, or otherwise, and specifying the powers, manner of removal, and, where proper, the compensation thereof. 2. Method of calling or summoning the co-owners to assemble; what percentage, if other than a majority of apartment owners, shall constitute a quorum; who is to preside over the meeting and who will keep the minute book wherein the resolutions shall be recorded. 3. Maintenance, repair and replacement of the common areas and facilities and payments therefor including the method of approving payment vouchers. 4. Manner of collecting from the apartment owners their share of the common expenses. 5. Designation and removal of personnel necessary for the maintenance, repair and replacement of the common areas and facilities. 6. The percentage of votes required to amend the bylaws.
Section History: Early Form [C66, 71, 73, 75, 77, 79, 81, § 499B.15]