(1) A registered society shall include in its by-laws provisions respecting—
(a) conditions of membership, including—
(i) the rights of joint members, if any,
(ii) the qualification for membership and the withdrawal of members and transfer of membership,
(iii) the amount of the membership fee and the annual fee, if any, to be paid by members,
(iv) the conditions on which membership ceases or may be terminated, the disposition that may be made on cessation or termination of a member's interest and the determination of the value of the member's interest, and
(v) the minimum value of shares that may be held by each member;
(b) subject to this Act, voting rights and the rights of making, amending and repealing by-laws, the right of members to vote by ballot and the manner, form and effect of votes at meetings;
(c) directors, officers and membership of the committees of directors,
(i) their qualifications, terms of office and removal,
(ii) the filling of vacancies and
(iii) their powers and duties;
(d) the address of the registered society;
(e) the distribution of the property of the society on dissolution of the society;
(f) the borrowing powers of the society and the procedure for exercising those powers; and
(g) any matters, in addition to those set out in paragraphs (a) to (f) that the members consider necessary or desirable.
(2) Subject to subsection (3), where the by-laws require a greater number of votes of directors or members than that required by this Act to effect any action, the by-laws shall prevail.
(3) The by-laws may not require a greater number of votes of members to remove a director than the number required for a special resolution.