2006 Code of Virginia § 13.1-714 - Amendment of bylaws by board of directors or shareholders
13.1-714. Amendment of bylaws 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 amend or repeal the corporation'sbylaws except to the extent that:
1. The articles of incorporation or 13.1-715 reserves that powerexclusively to the shareholders; or
2. The shareholders in amending, repealing, or adopting a bylaw expresslyprovide that the board of directors may not amend, repeal, or reinstate thatbylaw.
(Code 1950, 13-10, 13.1-24; 1956, c. 428; 1985, c. 522; 2005, c. 765.)
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