Maine Legislature Maine Revised Statutes
  • Session Law
  • Statutes
  • Maine State Constitution
  • Information
  • §1020 PDF
  • §1020 MS-Word
  • Statute Search
  • Ch. 10 Contents
  • Title 13-C Contents
  • List of Titles
  • Maine Law & Disclaimer
  • Revisor's Office
  • Maine Legislature
§1009
Title 13-C: MAINE BUSINESS CORPORATION ACT
Chapter 10: AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
Subchapter 2: AMENDMENT OF BYLAWS
§1021

§1020. Amendment by board of directors or shareholders

1.  Shareholders amend; repeal bylaws.  A corporation's shareholders may amend or repeal the corporation's bylaws.  
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Board of directors amend bylaws.  A corporation's board of directors may amend or repeal the corporation's bylaws, unless:  
A. The articles of incorporation or section 1021 reserve that power exclusively to the shareholders in whole or part; or   [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. Except as provided in section 206, subsection 4, the shareholders in amending, repealing or adopting a bylaw expressly provide that the board of directors may not amend, repeal or reinstate that bylaw.   [PL 2011, c. 274, §51 (AMD).]
[PL 2011, c. 274, §51 (AMD).]
SECTION HISTORY
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2011, c. 274, §51 (AMD).
The Revisor's Office cannot provide legal advice or interpretation of Maine law to the public.
If you need legal advice, please consult a qualified attorney.
Office of the Revisor of Statutes · 7 State House Station · State House Room 108 · Augusta, Maine 04333-0007
Data for this page extracted on 9/28/2022 08:27:44.
Maine Government
Legislature • Executive • Judicial • Agency Rules
Visit the State House
Tour Guide • Accessibility • Security Screening • Directions & Parking
Email
Office of the Revisor of Statutes