Guam § 45120 - Contents of Bylaws.

§ 45120. Contents of Bylaws.

The bylaws shall provide for at least the following:

(a) The election of a Board of Directors, the number of persons

constituting the same, and that the terms of at least one-third (1/3) of the

directors shall expire annually; the powers and duties of the Board; the

compensation, if any, of the directors; the method of removal from office of

directors; and whether or not the Board may engage the services of manager

or managing agent, or both, and specifying which of the powers and duties

granted to the Board by this Chapter or otherwise may be delegated by the

Board to either or both of them.

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(b) Method of calling meetings of the apartment owners; what

percentage, if other than a majority of apartment owners, constitutes a

quorum; and what percentage is, consistent with this Chapter, necessary to

adopt decisions binding on all apartment owners.

(c) Election of a president from among the Board of Directors who

shall preside over the meetings of the Board of Directors and of the

association of apartment owners.

(d) Election of a secretary who shall keep the minute book wherein

resolutions shall be recorded.

(e) Election of a treasurer who shall keep the financial records and

books of account.

(f) Operation of the property, payment of the common expenses, and

determination and collection of the common charges.

(g) Manner of collecting from the apartment owners their share of the

common expenses.

(h) Designation and removal of personnel necessary for the

maintenance, repair, and replacement of the common elements.

(i) Method of adopting and of amending administrative rules and

regulations governing the details of the operation and use of the common

elements.

(j) Such restrictions on and requirements respecting the use and

maintenance of the apartments 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 apartments and of the common elements by

the several apartment owners.

(k) That seventy-five percent (75%) of the apartment owners may at

any time modify or amend the bylaws, but each one of the particulars set

forth in this section shall always be embodied in the bylaws.