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In the U.S., corporations are created and regulated by state laws. Public corporations are regulated by federal law through the Securities and Exchange Commission (SEC).
Corporate bylaws are a detailed set of rules adopted by a corporation's board of directors after the company has been incorporated. They are an important legal document for a corporation to have in place as they specify its internal management structure and how it will be run.
The bylaws of a company are the internal rules that govern how a business is run. They're set out in a formal written document adopted by a corporation's board of directors and summarize important procedures related to decision-making and voting.
Section 33-920. - Authority to transact business required. (a) A foreign corporation, other than an insurance, surety or indemnity company, may not transact business in this state until it obtains a certificate of authority from the Secretary of the State.
What are corporate bylaws? By: CT Corporation Staff. The bylaws are the regulations of a corporation. They contain the basic rules for the conduct of the corporation's business and affairs.
Bylaws refer to the regulations and rules established by a company or other organization for internal management.