This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Purpose Of Bylaws In Philadelphia
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Multi-State
County:
Philadelphia
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US-00444
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FAQ
Your bylaws are legally binding—so treat them as such. Failure to comply with your bylaws can result in issues ranging from organizational conflict to personal liability, the rejection or loss of tax-exempt status, and in some cases, lawsuits.
Unlike employee guidelines, bylaws pertain to board-level decisions and actions about the day-to-day running of the business. Think of them as legal guidelines for your business, any action that violates them could be challenged in court.
Does Pennsylvania Require Corporate Bylaws? Pennsylvania's statute's don't explicitly state that you need corporate bylaws. However, Pennsylvania Consolidated Statute § 1310 implies the necessity of bylaws by stating that an organizing meeting “shall be held… for the purpose of adopting bylaws.”
By-laws are the legislation of a municipality, similar to the legislation made by the National and Provincial Governments. However, any by-laws that conflict with national or provincial legislation are invalid. By-laws are intended to give effect to and regulate the policies of a municipality.
A court of law will side with your bylaws in any dispute brought by another board member, an employee, volunteer or recipient of services who may have a grievance. Keep your bylaws relevant.
The bylaws are the regulations of a corporation. They contain the basic rules for the conduct of the corporation's business and affairs.
Additionally, reviewing bylaws is required when there's a situation that was not previously anticipated that might conflict with the existing bylaws. Typically, for-profit and nonprofit bylaws need to be reviewed at least every two years, but no less than every five years.
No. Corporations are formed and fictitious names are registered by filings made with the Corporation Bureau. You should, however, contact your local county, township, city, or borough for additional licensing requirements that may apply to your business.
While you are not required to file your bylaws with the state when incorporating your nonprofit organization in Pennsylvania, the IRS requires a filing of bylaws with applications for 501(c)(3) tax-exempt status (Form 1023).