Iowa Code (Last Updated: December 05, 2016) |
Title XII. BUSINESS ENTITIES |
Chapter 490. BUSINESS CORPORATIONS |
Section 490.1020. Amendment of bylaws by board of directors or shareholders.
Latest version.
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1. A corporation’s shareholders may amend or repeal the corporation’s bylaws.
2. A corporation’s board of directors may amend or repeal the corporation’s bylaws unless either of the following apply:
a. The articles of incorporation or section 490.1021 reserve that power exclusively to the shareholders in whole or in part.
b. The shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors shall not amend, repeal, or reinstate that bylaw.
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