271B.10-200 Amendment by board of directors or shareholders. (1)A corporation's board of directors may amend or repeal the corporation's bylaws unless: (a)The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or part; or (b)The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may not amend or repeal that bylaw. (2)A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors. (3)A shareholder of the corporation shall not have a vested property right resulting from any provision in the bylaws. Effective: June 29, 2017 History: Amended 2017 Ky. Acts ch. 193, sec. 8, effective June 29, 2017. -- Created 1988 Ky. Acts ch. 23, sec. 112, effective January 1, 1989.
Kentucky Legal Code