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What are Corporate Bylaws and Operating and Member Control Agreements?

April 26, 2017agreements bylaws CONTROL corporate operating

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What are Corporate Bylaws and Operating and Member Control Agreements?

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Bylaws (for corporations) and members agreements (for LLCs) are documents which govern the internal workings of the company. Such matters as voting, when meeting are held, how officers and directors are elected or removed, and how the company’s owners may transfer their ownership interests, are set forth in these documents. Bylaws and Member Control Agreements are typically not filed with the states and exist solely for the corporation/LLC and its shareholders/members.