Section 79-4-2.06 - 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.Laws, 1987, ch. 486, § 2.06, eff. 1/1/1988.