Idaho Code 55-1507 – Contents of Bylaws
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The bylaws referred to in section 55-1506, Idaho Code, when required, shall provide for at least the following:
(a) The election from among the unit owners of a board of managers, the number of persons constituting such board, and that the terms of at least one third (1/3) of the members of the board shall expire annually; the powers and duties of the board; the compensation, if any, of the members of the board; the method of removal from office of members of the board; and whether or not the board may engage the services of a manager or managing agent.
Terms Used In Idaho Code 55-1507
- Quorum: The number of legislators that must be present to do business.
(b) Method of calling meetings of the unit owners; what percentage of the unit owners, if other than a majority, shall constitute a quorum.
(c) Election of a president from among the board of managers, who shall preside over the meetings of the board of managers and of the unit owners.
(d) Election of a secretary, who shall keep the minutes of all meetings of the board of managers and of the unit owners and who shall, in general, perform all the duties incident to the office of secretary.
(e) Election of a treasurer, who shall keep the financial records and books of account.
(f) Maintenance, repair and replacement of the common elements and payments therefor, including the method of approving payment vouchers.
(g) Method of estimating the amount of the annual budget, and the manner of assessing and collecting from the unit owners their respective shares of such estimated expenses, and of any other expenses lawfully agreed upon.
(h) That after notice received by the manager or board of managers and within five (5) business days thereafter, any unit owner shall be furnished a statement of his account setting forth the amount of any unpaid assessments or other charges due and owing from such owner and other amounts set forth in section 55-1528, Idaho Code.
(i) Designation and removal of personnel necessary for the maintenance, repair and replacement of the common elements.
(j) Such restrictions on and requirements respecting the use and maintenance of the units and the use of the common elements, not set forth in the declaration, as are designed to prevent unreasonable interference with the use of their respective units and of the common elements by the several unit owners.
(k) Method of adopting and of amending administrative rules and regulations governing the operation and use of the common elements.
(l) The percentage of votes required to modify or amend the bylaws, but each one of the particulars set forth in this section shall always be embodied in the bylaws.