Corporate bylaws are legally required in Texas. Don't mess with Texas—skipping this step could have serious consequences.
They are necessary. Your nonprofit does not need to file bylaws with the Texas Secretary of State, but they are required to obtain tax-exempt status with the IRS.
Fortunately, you can follow the simple step-by-step guide below to get the information you need from the Texas Secretary of State website. Step 1: Visit the Texas Secretary of State's Website. Step 2: Search by Business Name, File Number, or Registered Agent. Step 3: Review the Search Results & Verify Legal Status.
Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate “an actual fraud… primarily for the purpose of personal benefit”.
Corporate bylaws are legally required in Texas. Don't mess with Texas—skipping this step could have serious consequences.
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.
The secretary of state does not maintain the bylaws or tax exempt filings of any nonprofit organization. Some organizations that have obtained tax-exempt status from the Internal Revenue Service are required to make certain documents available to the public.
Bylaws cover a range of topics, including finances, voting, appointing officers and directors, and even what happens if the company needs to close. While you won't need to file your corporate bylaws with the Secretary of State—unlike the Texas Certificate of Formation—every Texas corporation is required to have bylaws.