Iowa Code § 490.1020
Authority to amend
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2023
As of January 1, 2012
1. A corporation’s shareholders may amend or repeal the corporation’s bylaws.
1. A corporation’s shareholders may amend or repeal the corporation’s bylaws.
2. A corporation’s board of directors may amend or repeal the corporation’s bylaws unless either of the following apply:
2. A corporation’s board of directors may amend or repeal the corporation’s bylaws unless any of the following apply:
a. The articles of incorporation or section 490.1021 reserve that power exclusively to the shareholders in whole or in part.
a. The articles of incorporation, section 490.1021, or, if applicable, section 490.1022, reserve that power exclusively to the shareholders in whole or part.
b. The shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors shall not amend, repeal, or reinstate that bylaw.
b. Except as provided in section 490.206, subsection 4, the shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors shall not amend, repeal, or adopt that bylaw.
3. A shareholder of the corporation does not have a vested property right resulting from any provision in the bylaws.
89 Acts, ch 288, §118; 2002 Acts, ch 1154, §63, 125
89 Acts, ch 288, §118; 2002 Acts, ch 1154, §63, 125; 2021 Acts, ch 165, §145, 230
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.