Bylaws are the rules a corporation sets. They are established by the board of directors during the time the corporation is being formed. This process is called incorporation, and one of the first tasks of this new corporation will be to form corporate bylaws. Written bylaws tell organizations how to handle any new issues or situations that might arise. Having bylaws in place will save time that would've been spent on trying to work out complications within the company. It will also help keep things running smoothly and define goals or missions.
Bylaws will define things like the company's purpose, official name, officers' titles and responsibilities, requirements for membership, how the officers will be assigned, how meetings will be conducted, and how often these meetings will be held. Bylaws will dictate the way the group functions in addition to what the roles and responsibilities of the officers will be. They help lay out an organization map so everyone will know what the purpose and the daily operations are. Bylaws are what legally guide the organization, as they could be brought to court if actions are violated. They're sometimes called standard operating procedures or policies and procedures, but these are not the same things. They tend to monitor the day to day operations without having the force of the law which bylaws do. With bylaws, rights are established and protected. The specific roles, duties, and responsibilities for each member, board of directors, executive committee, and others are defined.
Contact a Rashkin Law attorney to discuss your Corporate Bylaws.