§414-303 - Bylaw increasing quorum or voting requirement for directors.
[§414-303] Bylaw increasing quorum orvoting requirement for directors. (a) A bylaw that fixes a greater quorumor voting requirement for the board of directors may be amended or repealed:
(1) If originally adopted by the shareholders, onlyby the shareholders;
(2) If originally adopted by the board of directors,either by the shareholders or by the board of directors.
(b) A bylaw adopted or amended by theshareholders that fixes a greater quorum or voting requirement for the board ofdirectors may provide that it may be amended or repealed only by a specifiedvote of either the shareholders or the board of directors.
(c) Action by the board of directors undersubsection (a)(2) to adopt or amend a bylaw that changes the quorum or votingrequirement for the board of directors must meet the same quorum requirementand be adopted by the same vote required to take action under the quorum andvoting requirement then in effect or proposed to be adopted, whichever isgreater. [L 2000, c 244, pt of §1]