(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.N.C. Gen. Stat. § 55-2-06
1955, c. 1371, s. 1; 1959, c. 1316, ss.2, 3; 1973, c. 469, s. 4; 1989, c. 265, s. 1.