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Code · Illinois · Chapter 805 — BUSINESS ORGANIZATIONS · Act 5

Sec. 2.25. By-laws.

93 words·~1 min read·/il/chapter-805/act-5/2-25

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Sec. 2.25. By-laws. Unless the power to make, alter, amend or repeal the by-laws is reserved to the shareholders by the articles of incorporation, the by-laws of the corporation may be made, altered, amended or repealed by the shareholders or the board of directors, but no by-law adopted by the shareholders may be altered, amended or repealed by the board of directors if the by-laws so provide. The by-laws may contain any provisions for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation.
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