The following are the requisites for the validity of

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262.The following are the requisites for the validity of by-laws, except a.It must not be contrary to the Corporation Code, any law, and Articles of Incorporation. b.It must not be contrary to morals and public policy. c.It must be discriminatory, oppressive and arbitrary. d.It must not impair obligations and contracts. 263.May the by-laws of a corporation prejudice or affect third persons who dealt with the corporation? 264.What is the required vote for the adoption of new pre-incorporation by-laws? 265.As a general rule, what is the required vote for the amendment, repeal and adoption of post-incorporation by-laws? 266.What is the required vote for the adoption or amendment of by-laws if this power has already been validly delegated to the Board of Directors/Trustees by the stockholders/members? a.Approval by at least majority vote of the board of directors/trustees and ratification by stockholders representing at least 2/3 of the outstanding capital stock or at least 2/3 members. b.Approval by stockholders representing at least 2/3 of the outstanding capital stock or at least 2/3 members. c.Approval by at least majority vote of the board of directors/trustees and ratification by stockholders representing at least majority of the outstanding capital stock at least 2/3 members. d.Approval by at least majority of the board of directors/trustees.

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