Bylaws

Rules and practices that govern management of an organization.

Bylaws

Rules established by a company or other organization setting forth details on how it is to be organized. Bylaws do not set forth the basic structure of the company; this is done in the organization's charter. For example, a charter may indicate that the company or organization must have a board of directors, while its bylaws state how many directors there are to be and how often they are elected. Bylaws are approved by shareholders (or the equivalent in other organizations) and may be amended by them.

bylaws

Stockholder-approved rules governing the conduct of a business. Bylaws typically include rules concerning the election of directors, selection of auditors, and amendment of existing bylaws.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Bylaws.

Bylaws are the self-imposed rules governing an incorporated company. The bylaws cover details such as the structure of the company, what the company's goals are, and how often shareholders meet.

They also explain the voting process and how officers, committees, and board members are chosen. A company can put almost any provisions in its bylaws, as long as the rules don't break federal or local law.

bylaws

Regulations by which an organization conducts its governance activities. They typically provide for the timing and method of elections and regular meetings,number of directors and other officers, methods and notice necessary for special elections or meetings, number of votes required for different types of actions, establishment of standing committees, and a grant of authority to organize other committees,powers of the board,officers,and various committees.The developer of a subdivision or condominium project typically creates the first set of bylaws and appoints the initial board of directors.