Governance Flashcards
1
Q
When can a bylaw be amended?
A
A majority vote by either the directors or the shareholders can adopt, amend, or repeal a bylaw, unless (i) the corporation’s articles reserve that power exclusively to the shareholders, or (ii) the shareholders, in amending, repealing, or adopting a bylaw, expressly provide that the board of directors may not amend, repeal, or reinstate that bylaw
