Section 293-A:10.20 Amendment by Board of Directors or Shareholders.
(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 shall 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A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors.
Source. 1992, 255:1, eff. Jan. 1, 1993.