The term "bylaws" can apply to many different types of institutions and bodies. For example, cities, townships, villages, government bodies, unions, organizations, and companies can all have bylaws. However, in this article, we’re going to explore bylaws within corporations.
The bylaws are the "meat and potatoes" of a corporation. In other words, the only way to really understand how a particular corporation operates is to read its bylaws. Also, many people confuse the bylaws of a corporation with its articles of incorporation. Bylaws are very different from the articles of incorporation.
In this article, we’ll explore the purpose of bylaws, how bylaws differ from the articles of incorporation, what you’ll likely find in the bylaws, and how bylaws operate as the foundation of every corporation.
Next, let’s take a look at the purpose of bylaws.