Bylaws Definition

Bylaws are legal documents that describe the structure of an organization, such as a corporation or nonprofit.

Bylaws Extended Definition

Corporations, nonprofits, and partnerships can all have bylaws. The bylaws help a company run more smoothly, as they detail rules and procedures for the business to follow. Generally, bylaws are internal records that are not made public.

The main goal of bylaws is to:

• Protect the rights of directors, CEO, stockholders, and committee members
• List out the duties of the company’s officers
• Help with elections and nominations
• Settle disputes

The bylaws explain the duties of each participating member and outline procedures for the organization.

Related Articles
What Are Bylaws? | Patriot Software
What Is an IPO?| Patriot Software

Last Updated By

Christan Neff | Apr 12, 2023