The bylaws must necessarily provide for at least the following:
(1) Form of administration, including the number and method of selecting the board of administrators, and specifying the powers, manner of removal, and, where proper, the compensation thereof;
(2) Method of calling meetings of the association of co-owners; that a majority of co-owners is required to adopt decisions; who is to preside over the meeting and who will keep the minute book wherein the resolutions shall be recorded;
(3) Care, upkeep and surveillance of the building and its general or limited common elements and services;
(4) Manner of collecting from the co-owners for the payment of the common expenses; and
(5) Designation and dismissal of the personnel necessary for the works and the general or limited common services of the building.
The sole owner of the building, or, if there be more than one, the co-owners representing two-thirds of the total value of the building, may at any time modify the system of administration, but each one of the particulars set forth in this section shall always be embodied in the bylaws. No such modification may be operative until it is embodied in a recorded instrument which shall be recorded in the same office and in the same manner as was the master deed and original bylaws of the condominium property regime involved.