Are bylaws required for a corporation in Virginia?

Corporate bylaws are legally required in Virginia. The law doesn't specify when bylaws must be adopted, but usually this happens at the organizational meeting.

Are corporate bylaws required in Virginia?

Corporate bylaws are legally required in Virginia. The law doesn't specify when bylaws must be adopted, but usually this happens at the organizational meeting.

US Legal Forms
Bylaws for Corporation

Standard Bylaws For Nonprofit In Virginia

Category:

Corporations - Bylaws

State:

Multi-State

Control #:

US-00444

Format:

Instant download

Description

This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.

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FAQ

Your bylaws must comply with Virginia state law, but also serve as a supplement to the code. Your nonprofit will also need to form a conflict of interest policy. This policy will ensure that all decisions made by the board and by the members, is in the best interest of the nonprofit.

Any nonprofit group or organization located in Virginia, unless exempt, must register with the Virginia Department of Agriculture and Consumer Services.

Apply for Necessary Virginia State Business Licenses. You may also need additional federal and state business licenses to successfully and legally run your nonprofit. Review federal licenses and permits by business type and activity to see if any apply to your organization.

Under Virginia law, to have a nonprofit you only need to have one member on the Board of Directors. However, to be eligible for tax exemption with the IRS, we recommend that you have at least three directors.

Corporate bylaws are legally required in Virginia. The law doesn't specify when bylaws must be adopted, but usually this happens at the organizational meeting.

The IRS generally requires a minimum of three board members for every nonprofit, but does not dictate board term length. What is important to remember is that board service terms aren't intended to be perpetual, and are typically one to five years.

Corporate bylaws are legally required in Virginia. The law doesn't specify when bylaws must be adopted, but usually this happens at the organizational meeting.

Any non-profit conducting business in Virginia must register as a Non-Stock Corporation or Limited Liability Company (LLC) with the Virginia State Corporation Commission. Procedures for filing as a Non-Stock Corporation can be found in the Code of Virginia Nonstock Corporation Act, Sections 13.1-801 through 13.1-946.