This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of A Corporation With The Philippines In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00444
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Word;
Rich Text
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FAQ
By-laws Adoption. – Every corporation formed under this code, must, within one month after receipt of official notice of the issuance of its certificate of incorporation by the Securities and Exchange Commission, adopt a new code of by-laws for its government not inconsistent with this code.
To incorporate online, the Corporation must meet the following requirements: The name must be unique. Check the name availability to ensure this. The name must include one of the following words or abbreviations: Corporation or Corp. Company or Co. Incorporated or Inc.
Corporate bylaws are legally required in Illinois. Illinois statute §805 ILCS 5/2.20 requires that bylaws be adopted either by shareholders at the first shareholder meeting or by directors at the initial director meeting.
Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
Having a corporate seal is no longer mandatory by Illinois statute, but including this language will document the fact that the company either does or does not use a seal.
There must be at least three directors. They do not have to be Illinois residents or corporation members, but you may require these and any other qualifications you choose. Restrictions and qualifications may be outlined in the Articles of Incorporation under the Other Provisions section or in the corporate by-laws.
A business license is mandatory for most businesses operating in Chicago, ensuring compliance with local regulations and standards. The application process involves gathering necessary documents, understanding zoning requirements, and can take up to 90 days, with guidance available from the Small Business Center.
The Department of Business Affairs and Consumer Protection (BACP) issues business licenses in the City of Chicago and regulates industries as diverse as retail, food establishments, day care centers, manufacturing facilities and motor vehicle repair shops. BACP also regulates the sale of retail liquor in Chicago.
A Chicago business license is required to conduct, engage in, maintain, operate, or manage any business in the City of Chicago. However, there are business activities regulated by the State of Illinois that may be exempt from City licensing.
The purpose of a business license is to claim the right to own and operate a business. In contrast, business permits are a type of licensure devoted to a certain aspect of public safety.
