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2018 Louisiana Laws
Revised Statutes
TITLE 12 - Corporations and Associations
RS 12:1-1020 - Amendment by board of directors or shareholders
Universal Citation: LA Rev Stat § 12:1-1020 (2018)
SUBPART B. AMENDMENT OF BYLAWS
§1-1020. Amendment by board of directors or shareholders
A. A corporation's shareholders may amend or repeal the corporation's bylaws.
B. A corporation's board of directors may adopt, amend, or repeal the corporation's bylaws, unless either of the following conditions exist:
(1) The articles of incorporation, R.S. 12:1-1021 or, if applicable, R.S. 12:1-1022 reserve that power exclusively to the shareholders in whole or part.
(2) The shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors may not amend, repeal, or reinstate that bylaw.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
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