Sec. 231. (1) Except if the power to adopt, amend, or repeal the bylaws is reserved exclusively to the corporation's shareholders, its members, or its board in the articles of incorporation: (a) The initial bylaws of a corporation shall be adopted by its incorporators, its shareholders, its members, or its board. (b) The shareholders, the members, or the board may amend or repeal the bylaws or adopt new bylaws. (c) The shareholders or members may prescribe in the bylaws that any bylaw adopted by them shall not be amended or repealed by the board. (2) The bylaws may contain any provision for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation. History: 1982, Act 162, Eff. Jan. 1, 1983
‹ Prev All Michigan sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.