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Florida Statutes Title XXXVI. Business Organizations § 607.1020. Amendment of bylaws by board of directors or shareholders

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A corporation's board of directors may amend or repeal the corporation's bylaws unless:

(a) The articles of incorporation or this chapter reserves that power exclusively to the shareholders in whole or in part; or

(b) Except as provided in s. 607.0206(5), the shareholders, in amending, repealing, or adopting the bylaws generally or a particular bylaw provision, expressly provide that the board of directors may not amend, repeal, adopt, or reinstate the bylaws generally or that particular bylaw provision.

(2) A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors.

(3) A shareholder does not have a vested property right resulting from any provision in the bylaws.

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Cite this article: FindLaw.com - Florida Statutes Title XXXVI. Business Organizations § 607.1020. Amendment of bylaws by board of directors or shareholders - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxvi-business-organizations/fl-st-sect-607-1020/

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