(1) If authorized by the articles of incorporation, the shareholders may amend the bylaws to fix a greater quorum or voting requirement for shareholders, or voting groups of shareholders, than is required by articles 101 to 117 of this title. An amendment to the bylaws to add, change, or delete a greater quorum or voting requirement for shareholders shall meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect or proposed to be adopted, whichever are greater.
(2) A bylaw that fixes a greater quorum or voting requirement for shareholders under subsection (1) of this section shall not be amended by the board of directors.
Source: L. 93: Entire article added, p. 800, � 1, effective July 1, 1994.
7-110-203. Bylaws - changing quorum or voting requirement for directors - requiring a meeting place. (1) A bylaw that fixes a greater quorum or voting requirement for the board of directors or that requires a meeting of shareholders to be held at a place may be amended or repealed:
(a) If adopted by the shareholders, only by the shareholders unless the bylaws otherwise provide; or
(b) If adopted by the board of directors, either by the shareholders or by the board of directors.
(2) A bylaw adopted or amended by the shareholders that fixes a greater quorum or voting requirement for the board of directors may provide that it may be amended only by a stated vote of either the shareholders or the board of directors.
(3) Action by the board of directors under paragraph (b) of subsection (1) of this section to adopt or amend a bylaw that changes the quorum or voting requirement for the board of directors shall meet the same quorum requirement and be adopted by the same vote required to take action under the quorum and voting requirement then in effect or proposed to be adopted, whichever is greater.
Source: L. 93: Entire article added, p. 800, � 1, effective July 1, 1994. L. 2003: (2) amended, p. 2322, � 253, effective July 1, 2004. L. 2021: IP(1) and (1)(a) amended, (HB 21-1124), ch. 41, p. 170, � 23, effective April 19.