30.0119 Adoption and change of bylaws – Posting.

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The original bylaws of a corporation organized under this chapter may be adopted by the incorporators. Thereafter, the power to make, alter, or repeal bylaws is in the stockholders, except that any corporation may, in the articles of incorporation, confer that power upon the directors. A copy of the bylaws of the corporation, with the names of all of its officers, must be posted in its principal place of business in American Samoa and be subject there to public inspection.

History:1962, PL 7-20.

Case Notes:

Impiledly requires issuance of stock certificates. Impliedly requires adoption of bylaws.

Donald Export Trading Ca. v. Toko Groceries Distributors, Inc., ASR (1979).