Final answer:
The correct answer is option b) No.
Step-by-step explanation:
The rights of shareholders regarding the amendment of corporate bylaws can vary depending on the laws of the state in which the corporation is incorporated and the corporation's own bylaws. Although shareholders typically have the right to propose changes, they do not have an absolute right to amend the bylaws without restriction.
Corporate governance is subject to both statutory law and the corporation's bylaws, which may require specific procedures or thresholds to make changes. The board of directors often also plays a significant role in amending bylaws.
In some cases, such as noted in No. 12 Constitutional Revision Article II, Section 8, Article V, Section 13, Article XII, New Section Lobbying and Abuse of Office by Public Officers, the right to amend bylaws may be specifically enumerated or restricted.
Furthermore, the status of corporations and their stakeholders can influence these rights. Shareholder liability, for example, is limited to the amount they have invested in the corporation.
Thus, the answer to whether shareholders have the absolute right to amend bylaws would generally be No, they do not have the absolute right as it is typically subject to certain legal procedures and limitations.