UK Accounting Glossary
a rule adopted by an organization in order to regulate its own affairs and the behavior of its members
Bylaws are the rules and regulations adopted by a corporation for its internal governance. It usually contains provisions relating to shareholders, directors, officers and general corporate business. At the corporation’s initial meeting the bylaws are adopted. Bylaws are a private document not filed with any state authority. Bylaws are more flexible than the articles of incorporation because they are easier to amend.
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This glossary post was last updated: 25th March 2020.