Section 33-2-106 - Bylaws(a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.(b) The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.1988 Act No. 444, Section 2; Repealed 1988 Act No. 444 Section 2]; 1981 Act No. 146, Section 2; 1963 (53) 327; 1962 (52) 1996; Derived from 1976 Code Section 33-11-10 [1962 Code Section 12-16.1.