§ 28-13-15-3 — Greater quorum or voting requirements; directors meeting; voting requisites

Indiana § 28-13-15-3

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 15: Amendment of Bylaws

Text

(a) A bylaw that fixes a greater than majority
quorum or voting requirement for action by the board of directors may
be amended or repealed:
(1) if originally adopted by the shareholders, only by the
shareholders; or
(2) if originally adopted by the board of directors, only by the
board of directors.
(b) A bylaw adopted or amended by the shareholders that fixes a
greater than majority quorum or voting requirement for action by the
board of directors may provide that the bylaw may be amended or
repealed only by a specified vote of either the shareholders or the board
of directors.
(c) Action by the board of directors under subsection (a)(2) to adopt
or amend a bylaw that changes the quorum or voting requirement for
action by the board of directors must meet the same quorum
requirement and be adopted by the same vote required to take action
under the quorum and voting requirement then in effect or proposed to
be adopted, whichever is greater.

Legislative History

As added by P.L.14-1992, SEC.163.