Title 55.1. Property and Conveyances
Chapter 21. Virginia Real Estate Cooperative Act
§ 55.1-2137. Bylaws.
A. The bylaws of the association shall provide for:
1. The number of members of the executive board and the titles of the officers of the association;
2. Election by the executive board of a president, treasurer, secretary, and any other officers of the association the bylaws specify;
3. The qualifications, powers and duties, terms of office, and manner of electing and removing executive board members and officers and filling vacancies;
4. Which, if any, of its powers and responsibilities the executive board or officers may delegate to other persons or to a managing agent;
5. Which of its officers may prepare, execute, certify, and record amendments to the declaration on behalf of the association; and
6. The method of amending the bylaws.
B. Subject to the provisions of the declaration, the bylaws may provide for any other matters the association deems necessary and appropriate, including a provision for the arbitration of disputes or other means of alternative dispute resolution in accordance with subsection B of § 55.1-2169.
1982, c. 277, § 55-463; 1993, c. 849; 2019, c. 712.
