Florida Statute 607.1020 - Full Text and Legal Analysis

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corporation’s shareholders may amend or repeal the corporation’s bylaws even though the bylaws may also be amended or repealed by its board of directors.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

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