48-20-201 - Amendment of bylaws by board of directors or shareholders. - Tennessee Statutes

48-20-201. Amendment of bylaws by board of directors or shareholders.

(a)  A corporation's board of directors may amend or repeal the corporation's bylaws unless:

     (1)  The charter or chapters 11-27 of this title reserve this power exclusively to the shareholders in whole or in part; or

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corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors.

[Acts 1986, ch. 887, § 10.20.]