The bylaws may, within the limitations of this chapter, provide for the:
(1) Method and terms of admission to membership and the disposal of members’ interests on cessation of membership for any reason;
(2) Time, place, and manner of calling and conducting meetings;
(3) Number or percentage of the members constituting a quorum;
(4)
(A) Number, qualifications, powers, duties, term of office, and manner, time, and vote for election, of directors and officers; and
(B) Division or classification, if any, of directors to provide for rotating or overlapping terms;
(5) Compensation, if any, of the directors, and the number of directors necessary to constitute a quorum;
(6) Method of distributing the net savings; or
(7) Various discretionary provisions of this chapter as well as other provisions incident to the purposes and activities and affairs of the association.