Bylaws are different from the articles of incorporation because they establish more specific details regarding responsibilities and duties of each member of the organization. Bylaws can include details such as how members are elected, how meetings are conducted, members rights and protections, as well as determine how disputes are to be handled. A company’s bylaws are customized for their own unique situation, but the basics include the following:
- The Company or Organization Name
- Mission Statement / Purpose
- Office Location(s)
- This section can include types of members, membership selection or election process, voting rights, removing members, discipline, etc..
- Board of Directors
- Identifies the main governing body, and all related details including duties, qualifications, terms, elections, and more.
- Establishes the purposes of the committee, how members are appointed, and specific duties.
- Officers are members of the board in charge of specific functions within the organization such as president, vice president, and seceratary. This section will define how officers are selected, the duties assigned to each, and discipline or removal procedures.
- Conflict of Interest
- This section is important to include in the bylaws to avoid potential penalties from the IRS.
- Amending Bylaws
- It is important to include who or what can be amended, and by what process. It is a best practice to review and update bylaws every 4-5 years.
If you need an attorney to help create or amend your corporate bylaws, call the experienced Boise business attorneys at Brian Webb Legal today.