47-1A-1020. Amendment by board of directors or shareholders.
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/sd/title-47/chapter-47-1/47-1a-1020·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A corporation's shareholders may amend or repeal the corporation's bylaws.
A corporation's board of directors may amend or repeal the corporation's bylaws, unless:
(1)The articles of incorporation or § 47-1A-1021 reserve that power exclusively to the shareholders in whole or part; or
(2)The shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors may not amend, repeal, or reinstate that bylaw.