1. A corporation's board of directors may amend or repeal the corporation's bylaws unless either of the following apply:
a. The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or part.
b. The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors shall not amend or repeal that bylaw.
2. A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors.
89 Acts, ch 288, §118
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