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Code · Montana · Title 35 — Corporations, Partnerships, and Associations · Chapter 14 · Part 10

35-14-1020. Authority to amend.

104 words·~1 min read·/mt/title-35/chapter-14/part-10/35-14-1020·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

35-14-1020 . Authority to amend.
(1)A corporation's shareholders may amend or repeal the corporation's bylaws.
(2)A corporation's board of directors may amend or repeal the corporation's bylaws unless:
(a)the articles of incorporation, 35-14-1021 , or, if applicable, 35-14-1022 reserves that power exclusively to the shareholders in whole or part; or
(b)except as provided in 35-14-206 (4), the shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors may not amend, repeal, or adopt that bylaw.
(3)A shareholder of the corporation does not have a vested property right resulting from any provision in the bylaws.
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