Corporate Bylaws

While the Certificate of Incorporation provides for the general features of a

corporation (though the Certificate of Incorporation may vary in length and
complexity) and is filed with the state, the corporation’s bylaws are not filed on the
public record.
Corporate bylaws provide the granular detail into how the corporation will operate
and what its governance mechanics will be. They also describe the relationship
among its Board of Directors, its officers and its shareholders.
The contents of a corporation’s bylaws may vary, depending upon which provisions
the initial Board of Directors wishes to include, and can be amended by a majority
vote of both the Board of Directors and stockholders at any time in the future.
Delaware’s corporate law provides for this flexibility, stating:
"[A corporation's] bylaws may contain any provision, not inconsistent with law or
with the certificate of incorporation, relating to the business of the corporation, the
conduct of its affairs, and its rights or powers or the rights or powers of its
stockholders, directors, officers or employees[.]" [source: delcode.delaware.gov]
Please feel free to utilize these free corporate bylaws templats:

 General Corporation Bylaws

 S-Corporation Bylaws
 Exempt (Non-Profit) Corporation Bylaws
 Public Benefit Corporation Bylaws

Four Purpose of Corporate Bylaws

1) Bylaws and the Board of Directors:
A corporation's bylaws may often provide for terms governing the creation,
structure and operation of its Board of Directors including, without limitation:

 The number of a corporation's Directors and how that number may be

amended.
 The committees of the corporation's Board of Directors and the functions of
those committees.
 The qualifications required of the corporation’s Board of Directors.
 The processes by which meetings of the Board of Directors or board
committees are called (such as means of providing notice and required
notice periods).
 The procedures governing Board of Director meetings (such as quorum
requirements; voting percentages required for action; and the means by
which meetings may be held, such as in person, via telephone and/or
through web-based services).
 Corporate Bylaws

 The circumstances under which voting proxies may be given to third parties
in order to vote on a Director's behalf.
 The requirements for Directors to act by written consent without a meeting.
 The scope of indemnification of Directors and advancement of expenses in
the event of litigation (though many corporations supplement Directors’
rights of indemnification with separate contractual agreements).

2) Bylaws and Officer Positions:

In addition, bylaws often set forth the titles of officers that will operate the day-to-
day activities of the corporation (e.g., president, vice president, secretary). These
provisions may also provide a broad description of the officers’ respective
responsibilities and the means by which an officer can be replaced or new classes
of officers can be created. In addition, among other things, the bylaws will detail the
terms and conditions under which officers will be indemnified for actions taken in
the role with the corporation.

3) Bylaws and Shareholder Matters:

The bylaws often contain a number of provisions governing shareholder voting
and activities, including, without limitation:

 The means by which shareholder meetings are called.

 Any specific notice or record date requirements for voting.
 The percentage of shareholders required to approve a delineated action (if
greater than a majority).
 The means by which a shareholder may provide a proxy to vote its shares.
 The means by which shareholders may vote by written consent rather than
through a meeting.

4) Amendment of the Bylaws:

Unlike the amendments of a Certificate of Incorporation, which are subject to
specific requirements under Delaware law, a corporation's bylaws may provide for
amendment by the Board of Directors, by the shareholders or by both.
Corporate bylaws are extremely important in the ongoing operation of a
corporation, but the precise provisions of corporate bylaws can vary. Delaware law
seeks to provide a level of flexibility in the operations and internal organization of a
corporation, within certain parameters.
Source: http://delcode.delaware.gov/title8/c001/sc01/