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.
Disclosure Requirements Disclosure is mandated by law, often through public records and real property records. Before purchasing a home, buyers must receive a set of documents detailing the HOA's health, such as its covenants, conditions, restrictions, bylaws, rules, and financial statements.
Corporations are legally required to adopt bylaws in Texas – Section 21.057 of the Texas Business Organizations Code states that the board of directors of a corporation shall adopt initial bylaws. So, if your company gets caught in a legal battle without bylaws, you could face some serious legal consequences.
No, but signing them is a smart idea. We recommend having your officers and directors sign your bylaws to affirm that they sign on to your policies.
Associations of all sizes and purposes use bylaws to provide a consistent structure for guiding their teams. Association bylaws cover a range of topics like an organization's purpose, how meetings should be run and membership requirements.
Resident Memberships Resident Memberships, personally owned, may be sold one time in ance with this subsection.