(a) Mandatory provisions.--The bylaws of the association must 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 executive board members and officers and removing executive board members and officers under section 4303(g) (relating to executive board members and officers) and filling vacancies.(4) Which, if any, of its powers 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.(6) The method of amending the bylaws. The following apply: (i) The bylaws may be amended only by vote or agreement of proprietary lessees of cooperative interests to which at least:(A) Fifty-one percent of the votes in the association are allocated.(B) A larger majority as specified in the bylaws.(C) A smaller majority as specified in the bylaws if all of the units are restricted exclusively to nonresidential use.(ii) The vote may be taken only at a scheduled meeting and following notice to the unit owners as provided under section 4308 (relating to meetings) that was advertised 14 days in advance to the proprietary lessees. Absentee voting shall be permitted to proprietary lessees provided that the ballots must be submitted to an independent reviewer by the commencement of the scheduled meeting.(b) Other provisions.--Subject to the provisions of the declaration, the bylaws may provide for any other matters the association deems necessary and appropriate. (c)Corrective amendments.--Except as otherwise provided in the bylaws or code of regulations, if any amendment to the bylaws or code of regulations is necessary in the judgment of the executive board to cure any ambiguity or to correct or supplement any provision of the bylaws or code of regulations that is defective, missing or inconsistent with any other provision thereof, with the declaration or with this subpart or if an amendment is necessary in the judgment of the executive board to conform to the requirements of any agency or entity that has established national or regional standards with respect to loans secured by mortgages or deeds of trust on units in cooperative projects (such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation), to comply with any statute, regulation, code or ordinance which may now or hereafter be made applicable to the cooperative or association, or to make a reasonable accommodation or permit a reasonable modification in favor of handicapped, as may be defined by prevailing Federal or State laws or regulations applicable to the association, proprietary lessees, residents or employees, then, at any time and from time to time, the executive board may at its discretion effect an appropriate corrective amendment without the approval of the proprietary lessees or the holders of any liens on all or any part of the cooperative, upon receipt by the executive board of an opinion from legal counsel who is independent from the declarant to the effect that the proposed amendment is permitted by the terms of this subsection. Amended by P.L. TBD 2022 No. 115, § 7, eff. 5/2/2023.Amended by P.L. TBD 2020 No. 11, § 7, eff. 5/26/2020.1992, Dec. 18, P.L. 1426, No. 176, § 1, effective in 60 days.