Contents of by-laws.
Section 47
SEC. 47. Contents of by-laws.—Subject to the provisions of the Constitution, this Code, other special laws, and the articles of incorporation, a private corporation may provide in its by-laws for: The time, place and manner of calling and conducting regular or special meetings of the directors or trustees ; The time and manner of calling and conducting regular or special meetings of the stockholders or members; The required quorum in meetings of stockholders or members and the manner of voting therein; The form for proxies of stockholders and members and the manner of voting them; The qualifications, duties and compensation.of, directors or trustees, officers and employees; The time for holding the annual election of directors or trustees and the mode or manner of giving notice thereof; The manner of election or appointment and the term of office of all officers other than, directors or trustees; The penalties for violation of the by-laws; In the case of stock corporations, the manner of issuing stock certificates; and Such other matters as may be necessary for the proper or convenient transaction of its corporate business and affairs. (21a)