35-9-303 . Bylaws. (1) A statutory close corporation need not adopt bylaws if provisions required by law to be contained in bylaws are contained in either the articles of incorporation or a shareholder agreement authorized by 35-9-301 . (2) If a corporation does not have bylaws when its statutory close corporation status terminates under 35-9-402 , the corporation shall immediately adopt bylaws under 35-14-206 .
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