[§414D-187]  Bylaws.  The initial bylaws
of a corporation shall be adopted by its board of directors.  The power to
alter, amend, or repeal the bylaws or adopt new bylaws shall be vested in the
board of directors unless otherwise provided in the articles of incorporation
or the bylaws.  The bylaws may contain any provisions for the regulation and
management of the affairs of a corporation not inconsistent with law or the
articles of incorporation. [L 2001, c 105, pt of §1]