Corporate Bylaws Template

How to Write Bylaws for a Corporation?

Every corporation chooses what to include in their bylaws which should be tailored to the particular needs of the company. However, this is how it is recommended to draft the Corporation Bylaws:

1. State the name of your company, its purpose and objectives, physical and mailing addresses . Enter the principal place of business and briefly describe which goods or services the organization offers.
2. List members of the corporation . You can simply write down the main positions in the company or draw a diagram that demonstrates the hierarchy and chain of command better. It is necessary to outline the procedure of selecting new members of the corporation and ways and reasons for their suspension and removal.
3. Describe the board of directors . Indicate its structure and number of directors. Record their rights and responsibilities. Explain how the chairman of the board is to be selected.
4. Identify the officers of the corporation (president, vice-president, and secretary), state the length of their term of office, and steps to take in case one of them is removed or resigns of their own free will. Cover annual and regular meetings, shareholder meetings, and procedures for notifying those who must attend.
5. Describe corporation stock - which shares will you offer and the total number of shares that can be issued and distributed . If you compose Nonprofit Corporate Bylaws, they need to establish how the company will distribute its financial resources received from donors and how the corporation benefits from these funds. Include rules that define the preparation and storage of corporate records.
6. Specify amendment procedures - do not forget to mention how to modify bylaws in the future . Even if there are no new members or radical changes, you should review and amend your bylaws every few years.

Once you have composed the Corporation Bylaws, you can keep them for your records as an internal guideline. There is no need to file this document with agencies or authorities - simply retain them with your business records and refer to them every time you have a conflict of interest within the corporation and need to check the hierarchy of your entity or when your business partners or creditors ask you to disclose this information in order to know more about your company's structure.

Still looking for a particular template? Take a look at the related templates below:

• Corporate Resolution;
• Certificate of Incorporation;
• Articles of Incorporation.