What are the By-Laws?

The by-laws are a set of rules concerning the internal organization and governance of the corporation. While many drafts of by-laws mirror the applicable corporate statute in many ways, it is important to note that these provisions can be modified. Typically, the by-laws deal with the following matters:

  • Execution of documents 
  • Banking 
  • Calling and quorum of director and shareholder meetings 
  • The term, resignation, removal, and vacancies of director elections and officer appointments
  • Declaring dividends 
  • Borrowing powers 
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