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 The Corporation Form Of Business Ownership In Chicago
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State:
Multi-State
City:
Chicago
Control #:
US-00444
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Word;
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FAQ
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.
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.
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.
Requirements for the Articles of Incorporation The document required to form a corporation in Illinois is called the Articles of Incorporation. The information required in the formation document varies by state. The requirements in Illinois include: Officers.
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.