Bolivia: Governing Laws/Bylaw Requirements

When starting a corporation in Bolivia, a certain set of bylaws set forth between members and managers of a business need to be created. It is recommended that founders work with a lawyer to draft their bylaws. Bylaws typically include sections with information about:

  • Board of Directors (a president, a vice president, a secretary, and at least one other director)
  • Directors’ and Officers’ Liability: details how a director can be liable to the company, its shareholders, and third parties for any dishonest or imprudent acts; violating the law, company bylaws, or other regulations; causing damage through negligent or fraudulent acts; failing to distribute dividends
  • Appointing and removing directors
  • Shares and how they are issued


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