Bylaws should describe how certain things work within a business such as: how directors are chosen; how most authority shareholders, directors and other members have; how meetings are performed; and what the roles of the members are. Bylaws, along with the articles of organization, are the founding documents of a new corporation. Generally, the business is created after the directors pass the bylaws. Therefore, the bylaws are a very important factor to consider when creating a new business. They contain the founding principles of the corporation and will need to be continually updated by the board members to insure that they are still functional.


Contact an attorney in this area