They serve as a set of rules for your organization and outline the purpose of your organization, who is in charge of the organization, how decisions are made within the corporation and the role of shareholders within the organization.
The requirements and procedures for actions without a meeting for the Board as set out in these Bylaws will apply to any committee designated by the Board as appropriate.
After the registration of the corporation, new directors are appointed who usually are other than the owners. To get additional copies, include a separate request and payment for copy fees when the document is submitted. Directors if any action taken is approved by at least a majority of the number of Directors required to constitute a quorum for that meeting. There are so many things you need to be on top of that it can make your head spin.
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Board of Directors, a record of its shareholders and the number and class of shares held by each Shareholder. Heor sheshall have such other powers and duties as may be prescribed by the board of directors or the bylaws. These templates are for illustrative purposes only and should not be construed as either actual or constructive legal advice being given.
Persons holding shares in a fiduciary capacity will be entitled to vote the shares so held.