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.
| EnactedEn. SectionSec. 14, ChapterCh. 432, Laws ofL. 1987 |
| AmendedAmd. SectionSec. 201, ChapterCh. 368, Laws ofL. 1991 |
| AmendedAmd. SectionSec. 257, ChapterCh. 271, Laws ofL. 2019 (SB 325 - Fitzpatrick, Steve (R) SD 10) |