For federal requirements, please visit the USA Governing Laws/Bylaws Requirements page.
When starting a corporation in the state of New Jersey, a certain set of bylaws set forth between members and managers of a business can be created. What this will do is allow business owners to have a written document proving that all relevant parties have agreed upon the rules and regulations set in place. This document will prove useful when future disputes between members arise. Within this agreement there are a number of important provisions defined that were previously left undocumented. Bylaws are not required to be filed with the State of New Jersey, though it can be very useful for varied legal matters. It is recommended that founders work with a lawyer to draft corporate bylaws. Bylaws usually include sections with information about:
There are many online templates available for writing bylaws. Here are some useful ones:
As an example, see these bylaws from the New Jersey Association of School Librarians.
There is no set criteria for the content of bylaws, but they typically set forth internal rules and procedures for the corporation, touching on issues like the existence and responsibilities of corporate offices, the size of the board of directors and the manner and term of their election, how and when board and shareholder meetings will be held, who may call meetings, and how the board of directors will function. You are not required to file bylaws with the state, but the corporation must keep a copy at its principal place a business. For general information on corporate bylaws, please see this Corporate Bylaws page.
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