§ 16. By-laws. The by-laws may provide for their amendment by the\nboard of directors; but any amendment adopted by the board shall be\nreported to the annual meeting of the corporation and, if not\naffirmatively approved thereat, shall cease to be in effect. By-laws may\nbe adopted, repealed or amended on the affirmative vote of two-thirds of\nthe members, stockholders or delegates voting thereon at a meeting held\nafter due written notice setting forth the proposed action and the\npurpose of the meeting.\n
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