Saturday, May 24, 2014

What is a bylaw?

What is a bylaw?
A bylaw is a rule of operation agreed to by an organization to govern its internal operations.
In short, by-laws are made by organizations to set the rules on how the organization is going to be run. By-laws are operating rules; they include how officers are selected, how meetings are run and how the organization operates and basically all the stuff that tells the orginzation what it is suppose to do to carry on usual business.
Day to day stuff; remember, artificial persons don't know what they are doing because they are not natural persons, so it is important for them to have instructions. By-laws are instructions on what to do.
Corporations, artificial persons, in most states' law, are required to have by-laws before they can receive a 'charter' or right to do business in the particular state, and because of the Full Faith and Credit Clause in the United States of America's Consititution of 1787, as amended just about anywhere else.

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