California Corporations Code

§ 5150

CORP § 5150 Effective Jan 1, 2010Div. 2 · Title 1 · Part 2 · Ch. 1 · Art. 5

Statute text

(a)Except as provided in subdivision (c), and Sections 5151, 5220, 5224, 5512, 5613, and 5616, bylaws may be adopted, amended or repealed by the board unless the action would materially and adversely affect the rights of members as to voting or transfer.

(b)Bylaws may be adopted, amended or repealed by approval of members (Section 5034); provided, however, that such adoption, amendment or repeal also requires approval by the members of a class if that action would materially and adversely affect the rights of that class as to voting or transfer in a manner different than that action affects another class.

(c)The articles or bylaws may restrict or eliminate the power of the board to adopt, amend or repeal any or all bylaws, subject to subdivision (e) of Section 5151.

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Legislative history

Amended by Stats. 2009, Ch. 631, Sec. 7. (AB 1233) Effective January 1, 2010.