3121 - Bylaws. - Pennsylvania Statutes

SUBCHAPTER B POWERS, DUTIES AND SAFEGUARDS Sec. 3121. Bylaws. 3122. Distributions by insurance corporations. § 3121. Bylaws. Except as provided in section 1504(b) (relating to adoption, amendment and contents of bylaws), the board of directors of an insurance corporation shall have the authority to adopt, amend and repeal bylaws, subject to the power of the members to change such action. The articles may restrict the authority of the board to adopt, amend or repeal bylaws generally or on any subject or class of subjects.