The bylaws shall prescribe the manner in which the business of the credit union shall be conducted with reference to the following matters:

1. (a) The purpose of the credit union.
2. (b) The qualification for membership.
3. (c) Determination of the month, time, and place of the annual meeting; the manner of conducting meetings; the method by which members shall be notified of meetings; and the number of members which shall constitute a quorum.
4. (d) The authorized number of directors, the number of directors necessary to constitute a quorum, and the powers and duties of officers elected by the directors.
5. (e) The membership, powers, and duties of the supervisory or audit committee, as applicable.
6. (f) The membership, powers, and duties of the credit committee or if applicable, the general powers, responsibilities, and duties of the credit manager.
7. (g) The manner in which the bylaws may be amended.