Definition:
Bylaws are the rules of a corporation, established by the board of directors during the process of starting a corporation. The bylaws cover such topics as:
- Location of the corporation
- Location of annual meeting and special meetings of the corporation
- For a stock corporation, information about stockholders and voting of shares of stock
- Date and place of the annual meeting
- Corporate officers and their duties
- Board of directors membership, meetings, compensation, selection and removal of board members
- Information about corporate records
Also Known As: corporate constitution
Common Misspellings: Sometimes spelled "by-laws"
Examples:
According to the corporation's bylaws, the annual meeting was to be held on January 24, 2009, in Des Moines, Iowa.
