§ 10A-2-10.20 — Amendment by Board of Directors or Shareholders

Alabama § 10A-2-10.20

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 2: Business Corporations
• Art. 10: Amendment of Articles of Incorporation and Bylaws
• Div. B: Amendment of Bylaws

Text

REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) A corporation’s board of directors may amend or repeal the corporation’s bylaws unless:
(1) The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or 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A corporation’s shareholders may amend or repeal the corporation’s bylaws even though the bylaws may also be amended or repealed by its board of directors.

Legislative History

(Acts 1994, No. 94-245, p. 343, §1; §10-2B-10.20; amended and renumbered by Act 2009-513, p. 967, §131.)