(MBCA 10.20) (a) A corporation's shareholders may amend or repeal the corporation's bylaws. (b) A corporation's board of directors may amend or repeal the corporation's bylaws, unless: (1) The articles of incorporation or section 21-2,160 reserves that power exclusively to the shareholders in whole or part; or (2) Except as provided in subsection (d) of section 21-224 , the shareholders in amending, repealing, or adopting a bylaw expressly provide that the board of directors may not amend, repeal, or reinstate that bylaw.
Neb. Rev. Stat. § 21-2,159
Amendment by board of directors or shareholders
Laws 2014, LB749, § 159.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.