Sec. 33-1031. Emergency bylaws.
Sec. 33-1031. Emergency bylaws. (a) Unless the certificate of incorporation provides otherwise, the board of directors of a corporation may adopt bylaws to be effective
only in an emergency defined in subsection (d) of this section. The emergency bylaws,
which are subject to amendment or repeal by the members, may make all provisions
necessary for managing the corporation during the emergency, including: (1) Procedures
for calling a meeting of the board of directors; (2) quorum requirements for the meeting;
and (3) designation of additional or substitute directors.
(b) All provisions of the regular bylaws consistent with the emergency bylaws remain effective during the emergency. The emergency bylaws are not effective after the
emergency ends.
(c) Corporate action taken in good faith in accordance with the emergency bylaws:
(1) Binds the corporation; and (2) may not be used to impose liability on a corporate
director, officer, employee or agent.
(d) An emergency exists for purposes of this section if a quorum of the corporation's
directors cannot readily be assembled because of some catastrophic event.
(P.A. 96-256, S. 25, 209.)
History: P.A. 96-256 effective January 1, 1997.