§ 10.20.
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/vt/10-20A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 10.20. Amendment by board of directors or shareholders
(a)A corporation’s board of directors may amend or repeal the corporation’s bylaws unless:
(1)the articles of incorporation or this title reserve this power exclusively to the shareholders in whole or in part; or
(2)the shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may not amend or repeal that bylaw.
(b)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corporation’s shareholders may amend or repeal the corporation’s bylaws even though the bylaws may also be amended or repealed by its board of directors. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)