Most states make forming a corporation relatively painless by providing forms for practically everything. The bylaws of the corporation, however, are an area you dont want to rely on a form.
What Are Bylaws?
Bylaws are the technical rules that govern how a corporation will be run. They are a private document for the corporation and are not filed with any government entity. The purpose of the bylaws is to set out how things such as meetings, voting and share transfer will occur with the business.
Provisions
Typically, the bylaws will be the biggest document in your corporate book. If you are a single shareholder entity, they tend to be fairly straightforward since there isnt really any dispute possibility unless you have a split personality. If there are two or more shareholders, however, the document is going to be a key item because it is going to detail voting rights and so on.
Typically, the bylaws of a corporation will cover the following specific issues:
1. Board of Director Meetings When, where and how meetings will be conducted.
2. Notice of Meetings The form, time and how notice must be given to board members....
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