23-1-39-2. Bylaws fixing quorum or voting requirements; adoption or amendment by shareholders

IN Code § 23-1-39-2 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 2. (a) If expressly authorized by the articles of incorporation, the shareholders may adopt or amend a bylaw that fixes a greater quorum or voting requirement for shareholders (or voting groups of shareholders) than is required by this article.

(b) A bylaw that fixes a greater quorum or voting requirement for shareholders under subsection (a) may not be adopted, amended, or repealed by the board of directors.

As added by P.L.149-1986, SEC.23.