10-1020 - Arizona Statutes

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A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by the board of directors.