Once you open your own corporation in Mississippi, you should draft a short statement that explains the purpose of the company and allows you to build a strong foundation for your business - Mississippi Corporate Bylaws . The bylaws are not supposed to be public - there is no need to file them with the state or local authority , and there is no statute that obliges newly formed corporations to create internal manuals; however, a document that describes the hierarchy of the business and identifies the standards and goals of the business will be of massive help to every officer, manager, and employee.
Usually, the bylaws contain the following provisions: the name and legal address of the organization, the scheme that demonstrates the chain of command, the description of the board of directors and the duties they have to fulfill, the procedures to comply with when convening a meeting of the board, and the rules to adhere to when changing the bylaws and other important documentation of the entity.
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