180.1020

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

180.1020 Amendment of bylaws by board of directors or shareholders.

180.1020(1)

(1) A corporation’s board of directors may amend or repeal the corporation’s bylaws or adopt new bylaws except to the extent that any of the following applies:

180.1020(1)(a)

(a) The articles of incorporation, § 180.1021 (2) or 180.1022 (1) (a) or any other provision of this chapter reserve that power exclusively to the shareholders.

180.1020(1)(b)

(b) The shareholders in adopting, amending or repealing a particular bylaw provide within the bylaws that the board of directors may not amend, repeal or readopt that bylaw.

180.1020(2)

(2) A corporation’s shareholders may amend or repeal the corporation’s bylaws or adopt new bylaws even though the board of directors may also amend or repeal the corporation’s bylaws or adopt new bylaws.