Iowa Code § 490.1021
Bylaw increasing quorum or voting requirement for directors
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2023
As of January 1, 2012
1. A bylaw that increases a quorum or voting requirement for the board of directors may be amended or repealed as follows:
1. A bylaw that increases a quorum or voting requirement for the board of directors or that requires a meeting of shareholders to be held at a place may be amended or repealed as follows:
a. If adopted by the shareholders, only by the shareholders, unless the bylaws otherwise provide.
a. If originally adopted by the shareholders, only by the shareholders, unless the bylaw otherwise provides.
b. If adopted by the board of directors, either by the shareholders or by the board of directors.
b. If adopted by the board of directors, either by the shareholders or by the board of directors.
2. A bylaw adopted or amended by the shareholders that increases a quorum or voting requirement for the board of directors may provide that it can be amended or repealed only by a specified vote of either the shareholders or the board of directors.
2. A bylaw adopted or amended by the shareholders that increases a quorum or voting requirement for the board of directors may provide that it can be amended or repealed only by a specified vote of either the shareholders or the board of directors.
3. Action by the board of directors under subsection 1 to amend or repeal a bylaw that changes the quorum or voting requirement for the board of directors must meet the same quorum requirement and be adopted by the same vote required to take action under the quorum and voting requirement then in effect or proposed to be adopted, whichever is greater.
3. Action by the board of directors under subsection 1 to amend or repeal a bylaw that changes a quorum or voting requirement for the board of directors shall meet the same quorum requirement and be adopted by the same vote required to take action under the quorum and voting requirement then in effect or proposed to be adopted, whichever is greater.
89 Acts, ch 288, §119; 2002 Acts, ch 1154, §64, 125
89 Acts, ch 288, §119; 2002 Acts, ch 1154, §64, 125; 2021 Acts, ch 165, §146, 230
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.