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2019 Florida Statutes
SECTION 1020
Amendment of bylaws by board of directors or shareholders.
Amendment of bylaws by board of directors or shareholders.
607.1020 Amendment of bylaws by board of directors or shareholders.—
(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A corporation’s shareholders may amend or repeal the corporation’s bylaws even though the bylaws may also be amended or repealed by its board of directors.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.
History.—s. 106, ch. 89-154; s. 128, ch. 2019-90.