(a) Every condominium property shall be administered by a unit owners association, which shall be governed by bylaws. No modification of or amendment to bylaws is valid unless the same is set forth in an amendment to the declaration and such amendment is filed for record.
(b) The bylaws shall provide for the following:
(1) Election from among the unit owners of a board of managers of the unit owners association which shall exercise all power and authority of the unit owners association; the number of persons constituting the same and that the terms of not less than one-third of the members thereof expire annually; the powers and duties of the board; the compensation of its members and the method of their removal from office; and whether or not the services of a manager or managing agent may be engaged;
(2) The time and place for holding meetings; the manner of and authority for calling, giving notice of and conducting meetings; and the requirement, in terms of percentage of interest in the common areas and facilities, of a quorum;
(3) The election by the board of managers of a president, one or more vice presidents, a secretary, a treasurer and such other officers as the board of managers may desire;
(4) By whom and the procedure by which maintenance, repair and replacement of the common areas and facilities may be authorized in conjunction with the Building and Property Maintenance Code of the City, being Title Five of Part Seventeen - the Building and Housing Code, governing multifamily use;
(5) The common expenses for which assessments may be made and the manner of collecting from the unit owners their respective shares of the common expenses;
(6) The method of distributing the common profits;
(7) By whom and the procedure by which administrative rules and regulations governing the operation and use of the condominium property or any portion thereof may be adopted and amended;
(8) The maintenance in a safe and orderly condition of all buildings, yards and other common areas and facilities in conjunction with the Building and Property Maintenance Code of the City governing multifamily use;
(9) The regular collection and disposal of garbage and rubbish.
(Ord. 129-1972. Passed 6-5-72.)