What are bylaws and the typical provisions found in them?

Alidad Vakili / January, 2018

Description

Alidad Vakili, Associate at K&L Gates explains why it is important to have bylaws and what type of information you can find in them.

Video transcript:

What are bylaws and the typical provisions found in them?

Bylaws are really the operating manual for the corporation. It’s one of the core corporate documents you’ll find and essentially provide a guideline for the board of directors and the shareholders in the internal workings of the company.

So, for example provisions typically found in bylaws would include, you know, how to hold a board of directors meeting or shareholders meeting, who gets notice, when they get noticed, how votes are tallied and made, the kinds of actions that can be approved by the board, by the shareholders and also provides often times the roles and responsibilities of the officers of that company, so the CEO, president, secretary, Chief Financial Officer etc.

It’ll also provide some of the other housekeeping issues you’ll see, for example, who signs stock certificates and who keeps the ledger of the company. It really is an operating manual for the company.

Company

QUICK INFO

Next Up

Join the Startupedia Community

Connect with VCs and unlock vital startup advice!