(a) The power to make, alter, amend, or repeal the bylaws of the corporation shall be vested in the board of directors.(b) The bylaws may contain any provisions for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation.Acts 1937, No. 342, § 11; Pope's Dig., § 2325; A.S.A. 1947, § 77-1111.
Arkansas Legal Code