271B.10-200 Amendment by board of directors or shareholders
(1) A corporation's board of directors may amend or repeal the corporation's bylaws unless: (a) The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or part; or (b) The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may not amend or repeal that bylaw
(2) A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors
(3) A shareholder of the corporation shall not have a vested property right resulting from any provision in the bylaws
Effective:June 29, 2017 History: Amended 2017 Ky. Acts ch. 193, sec. 8, effective June 29, 2017. -- Created 1988 Ky. Acts ch. 23, sec. 112, effective January 1, 1989
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