Corporate Bylaws are the internal rules by which the Corporation operates.
The Board of Directors adopts Corporate Bylaws at its initial meeting.
PCF can create customized initial Bylaws for your Corporation that are based on your specific business requirements.
Bylaws usually require you to keep minutes of your first Board of Directors meeting. When you order Bylaws, PCF will also prepare the minutes for you.
Corporate Bylaws vary widely from Corporation to Corporation. Commonly Corporate Bylaws include the number of seats on the Board of Directors; how Directors are elected; how meetings of Directors and Shareholders are to be conducted; what Officers the Corporation will have and a description of each of their duties.
As your Corporation grows over time, you may amend your Corporate Bylaws as necessary.
Corporate Bylaws generally cannot be amended by the Board of Directors unilaterally.
A vote by the majority of Stockholders of the Corporation is usually required to amend the Corporate Bylaws.
Corporate Bylaws may include any rules for managing the business and conducting Corporate affairs.
Almost anything may be written into the Corporate Bylaws, however, the Bylaws must not be in violation of any federal or state law or the Corporation's Articles of Incorporation. A copy of the Corporate Bylaws should be maintained at the Corporation's principal office.