New Mexico Statutes 53-4-9. Contents of by-laws [bylaws]
The by-laws [bylaws] may, within the limitations set forth herein provide for:
Terms Used In New Mexico Statutes 53-4-9
- Quorum: The number of legislators that must be present to do business.
A. the method and terms of admission to membership and the disposal of members’ interests on cessation of membership for any reason;
B. the time, place and manner of calling and conducting meetings;
C. the number or percentage of the members constituting a quorum;
D. the number, qualifications, powers, duties, term of office, and manner, time and vote for election, of directors and officers; and the classification, if any, of directors;
E. the compensation, if any, of the directors, and the number of directors necessary to constitute a quorum;
F. the method of distributing the net savings;
G. the various discretionary provisions herein as well as other provisions incident to the purposes and activities of the association.