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Code · Michigan · Chapter 450 — Corporations

450.2231 Bylaws; adoption; amendment or repeal; contents.

136 words·~1 min read·/mi/chapter-450/450-2231

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450.2231 Bylaws; adoption; amendment or repeal; contents.
Sec. 231.
(1)Except if the power to adopt, amend, or repeal the bylaws is reserved exclusively to the corporation's shareholders, its members, or its board in the articles of incorporation:
(a)The initial bylaws of a corporation shall be adopted by its incorporators, its shareholders, its members, or its board.
(b)The shareholders, the members, or the board may amend or repeal the bylaws or adopt new bylaws.
(c)The shareholders or members may prescribe in the bylaws that any bylaw adopted by them shall not be amended or repealed by the board.
(2)The bylaws may contain any provision for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation.
History: 1982, Act 162, Eff. Jan. 1, 1983
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