Section 433. Proposed by-laws

The  incorporators  shall  subscribe  and
  acknowledge and submit to the  superintendent  at  his  office  proposed
  by-laws  in  duplicate,  which  shall  prescribe the manner in which the
  business of such savings and loan bank shall be conducted with reference
  to the following matters: 1. The date during the month of January of the
  annual meeting of shareholders; the manner of calling special  meetings,
  and the number of members which shall constitute a quorum.
    2.  The  number,  manner  of election and qualifications of directors,
  subject to the provisions of section  four  hundred  forty-one  of  this
  article;  the  method  of  division  into  classes  for  the  purpose of
  electing, as nearly as may be, an equal number of directors  each  year;
  the  removal or suspension of directors; the filling of vacancies in the
  board of directors, and the number of directors which shall constitute a
  quorum, which shall not be less than five.
    3. The meetings, powers and duties of directors;  the  appointment  or
  election of committees.
    4.  The officers; the manner of their election; their terms of office,
  duties and compensation; and  the  bonds  which  shall  be  required  of
  officers.
    5.  The  annual commission that may be charged each member, subject to
  the limitations of section four hundred forty of this article.
    6. The minimum amount of shares necessary to qualify for membership.
    7. The minimum amount of shares necessary to qualify for extension  of
  credit.
    8.  The  manner  of voting, subject to the limitations of section four
  hundred forty-four of this article.
    9. The transfer of membership, subject to the limitations  of  section
  four hundred thirty-nine of this article.
    10. The manner in which the by-laws may be altered or amended.