B.  AMENDMENT OF BYLAWS

     [§414-301]  Amendment by board of directors or shareholders.  (a)  A corporation's board of directors may amend or repeal the corporation's bylaws unless:

     (1)  The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or part; or

     (2)  The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may not amend or repeal that bylaw.

     (b)  A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors. [L 2000, c 244, pt of §1]