What are Bylaws?
Just as a city or state government has laws for its citizens, the corporation has rules for its shareholders, officers, and directors. These rules are called the bylaws. They specify things like the number of votes required to pass a matter put before the corporation, and the requirements to be met before a shareholder can sell their stock.
Bylaws serve as the internal operating document for the corporation. Generally, Bylaws detail the responsibilities, rights, and duties of directors, shareholders and officers. Currently, states generally do not require that Bylaws be filed. What is a Corporate Officer?[top] Our forms allow you to name up to 6 officers for your corporation. While most jurisdictions allow the same person to act in all capacities, that person has different responsibilities depending on the capacity in which he or she is acting. President Vice President Treasurer Secretary (or clerk) Assistant Secretary Assistant Treasurer Although most jurisdictions allow one person to serve in all three capacities, the person’s responsibility and authority changes through the different officer ships the person assumes. For example, the President is typically responsible for entering into contracts on behalf of the corporation, the Treasurer is responsible for maintaining and accounting for corporate funds, and the Secret
