Arizona § 10-1020 Amendment by board of directors or shareholders

Arizona Statutes

§ 10-1020 — Amendment by board of directors or shareholders

Arizona·Title 10 Arizona Revised Statutes·Ch. 10 AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS·Art. 2 Amendment of Bylaws

A.A corporation's board of directors may amend or repeal the corporation's bylaws unless either:

1.The articles of incorporation or chapters 1 through 17 of this title reserve this power exclusively to the shareholders in whole or part.

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corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by the board of directors.

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A. A corporation's board of directors may amend or repeal the corporation's bylaws unless either:

1. The articles of incorporation or chapters 1 through 17 of this title reserve this power exclusively to the shareholders in whole or part.

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A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by the board of directors.

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