Bylaws are written provisions describing how day-to-day operations of a corporation will be conducted. A corporation's activities are governed, in order of precedence, by statute, corporate charter, and bylaws.
A corporation's first set of bylaws is adopted by the corporation's first board of directors (or, in New York, by incorporators). The bylaws will normally describe how issues of corporate control will be handled and, to the extent not already covered in the corporate charter or otherwise required by statute, will cover such issues as the number of directors, the method of voting by the directors, offices of the corporation, and provisions for shareholder meetings. Once bylaws are adopted, changes in the bylaws normally will require shareholder approval.
Content of Bylaws
Typically, bylaws will describe:
Copyright 2012 LexisNexis, a division of Reed Elsevier Inc.
|San Bernardino Office
215 North D Street Suite 100
San Bernardino Ca, 92401
|Costa Mesa Office |
369 San Miguel Drive, Suite 265
Newport Beach, CA 92660
30211 Ave. De Las Banderas, Suite 200
Rancho Santa Margarita, CA 92688
|Palm Desert Office
77564-A Country Club Dr. Suite 132
Palm Desert, CA 92211