Colo. Rev. Stat. § 7-110-201 – Amendment of bylaws by board of directors or shareholders.

(1) The board of directors may amend the bylaws at any time to add, change, or delete a provision, unless:
1. (a) Articles 101 to 117 of this title or the articles of incorporation reserve such power exclusively to the shareholders in whole or part; or
2. (b) A particular bylaw expressly prohibits the board of directors from doing so.
(2) The shareholders may amend the bylaws even though the bylaws may also be amended by the board of directors.

Source: L. 93: Entire article added, p. 800, § 1, effective July 1, 1994.