Generally the time between getting a bid and being initiated is the same for an informal pledge class and a formal pledge class. The new member time period is (to the best of my knowledge) set by (inter)nationals. So if the sorority has a six week new member period for their formal recruitment pledge class, it will also have a six week new member period for the informal recruitment pledge class.
Being fined for missing meetings is set by chapter, not necessarily (inter)nationals so we can't really answer that question for you. Some sororities may allow excuses to be sent in such as not being able to make it for work or class. Going out of town to visit friends isn't really something you can't get out of. If the meetings are Sunday evenings, why not return in time for the meeting?
There are probably mandatory events that are required for a new member to attend to be initiated, however this may vary as well based on sorority.
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I know, I should probably ask this question to the sorority where I want to pledge, but my friends told me, they'll get offended by this question and it is likely that I won't get a bid by asking such things
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You can't get definite answers from asking strangers on the internet who may or may not be familiar with your sorority or chapter. While we have representatives from almost every NPC sorority, things can vary from chapter to chapter. While I know what happens at my chapter in Oregon, those chapters in Texas probably do things a touch differently.
Asking about new member meetings shouldn't cause anyone to be offended. It is a pretty normal thing to ask. However, if you sit there and say I want to see my friends and don't care if I have to be here, that might send the message that you don't care.