45-4-1106 - Bylaws.
45-4-1106. Bylaws.
(a) The credit unions that adopt the articles of incorporation under § 45-4-1101 shall also subscribe and submit to the commissioner of financial institutions for approval, the initial bylaws under which the corporation shall operate.
(b) The bylaws may be amended at any regular meeting of the directors, or special meeting of the directors called for that purpose, by a vote of two thirds (2/3) of the entire board.
[Acts 1974, ch. 577, § 6; T.C.A., § 45-1840; Acts 1986, ch. 558, § 5.]