WHAT ARE CORPORATE BYLAWS?

The corporate bylaws are equivalent to a partnership’s partnership agreement or an LLC’s operating agreement. Corporate bylaws govern the way the shareholders and officers conduct the business affairs of a corporation. The custom corporate bylaws we draft for you governs things like:

• The rights, duties, and obligations of the shareholders and officers;
• How often the shareholders of the corporation will have meetings;
• The number of shareholders required to call for a meeting;
• The quorum of shareholders needed to transact business at meetings;
• How shareholders will vote for directors;
• How shareholders can remove one or more directors;
• The duties of each officer;
• How disputes among shareholders will be handled;
• Rules for how shareholders can transfer their ownership interest;
• Whether shareholders will have preemptive rights;
• How many shareholders it takes to amend the articles of incorporation; and
• General matters concerning dissolution of the corporation, etc.

The corporate bylaws we draft are in Microsoft Word (other formats available upon request) so that you can add your own specific provisions to them and/or delete or modify any of the provisions we create for you.

WHY DO YOU NEED CORPORATE BYLAWS?

There are three main reasons why you need to have Corporate Bylaws on file:

1. To govern how the owners of the corporation interact with each other with regard to the business of the corporation; the conduct of its affairs; and the rights, duties and powers of the shareholders and officers
   
   
2. Many banks require a set of valid corporate bylaws before they will permit your corporation to open a business banking account.
   
   
3. To avoid piercing the corporate veil in situations where the corporation is sued.