Amendment status not verified — confirm the current text below against the official source.
(1) Every project shall be administered and governed in accordance with the byelaws of the association. Bye-laws. (2) The bye-laws shall provide for the following, namely:- (i) the manner in which the association is to be formed, the election of a board of managers from among the apartment owners, the number of persons constituting the board, the number of members of the board to retire annually, the powers and duties of the board, the honorarium, if any, of the members of the board, the method of removal from office of members of the board, the powers of the board to engage the services of a secretary or manager, delegation of powers and duties to such secretary or manager; (ii) meetings of the apartment owners and the number to constitute quorum; (iii) election of a president who shall preside over the meetings of the board and of the association; (iv) maintenance of the common areas and repair and replacement of the common facilities and payment thereof; (v) the manner of collecting share of the common expenses from the apartment owners; (vi) the manner in which a federation is to be formed, in cases, where its formation is necessary; or (vii) any other matter necessary for the administration of the property. (3) As soon as may be, after the acceptance of the declaration under sub-section (3) of section 4, the majority of apartment owners shall make the bye-laws as per sub-section (2) and submit the same to the competent authority, who shall register it.