Bylaws

Business, Legal & Accounting Glossary

Definition: Bylaws


Quick Summary of Bylaws


The rules that govern the internal affairs or actions of a corporation. Normally bylaws are adopted by the shareholders of a profit-making business or the board of directors of a nonprofit corporation. Bylaws generally include procedures for holding meetings and electing the board of directors and officers. The bylaws also set out the duties and powers of a corporation’s officers.



What is the dictionary definition of Bylaws?

Dictionary Definition


n. the written rules for conduct of a corporation, association, partnership or any organization. They should not be confused with the articles of incorporation, which only state the basic outline of the company, including stock structure. Bylaws generally provide for meetings, elections of a board of directors and officers, filling vacancies, notices, types and duties of officers, committees, assessments and other routine conduct. Bylaws are in effect a contract among members and must be formally adopted and/or amended.

  1. A local custom or law of a settlement or district.
  2. A rule made by a local authority to regulate its own affairs.
  3. A law or rule governing the internal affairs of an organization (e.g., corporation or business).

Full Definition of Bylaws


a rule adopted by an organization in order to regulate its own affairs and the behaviour 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.


Cite Term


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https://payrollheaven.com/define/bylaws/
Modern Language Association (MLA):
Bylaws. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 03, 2020 https://payrollheaven.com/define/bylaws/.
Chicago Manual of Style (CMS):
Bylaws. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bylaws/ (accessed: December 03, 2020).
American Psychological Association (APA):
Bylaws. PayrollHeaven.com. Retrieved December 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bylaws/

Definition Sources


Definitions for Bylaws are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.