Section 10-2B-2.06 Bylaws.
Section 10-2B-2.06
Bylaws.
(a) The board of directors of a corporation shall adopt initial bylaws for the corporation unless the right to adopt the initial bylaws is reserved to the shareholders in the articles of incorporation.
(b) The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.
(Acts 1994, No. 94-245, p. 343, §1.)