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2023 Arizona Revised Statutes
Title 10 - Corporations and Associations
§ 10-1020 - Amendment by board of directors or shareholders
Universal Citation:
AZ Rev Stat § 10-1020 (2023)
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10-1020. Amendment by board of directors or shareholders
A. A corporation's board of directors may amend or repeal the corporation's bylaws unless either:
1. The articles of incorporation or chapters 1 through 17 of this title reserve this power exclusively to the shareholders in whole or part.
2. The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may 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A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by the board of directors.
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