Oklahoma Sample Letter regarding Revised Drafts of Articles of Incorporation, Organizational Minutes, and Bylaws
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FAQ
No. Unlike in most states, Oklahoma law doesn't explicitly require corporations to adopt bylaws. ing to OK Stat. § 18-1013, bylaws ?may? be adopted by the incorporators or directors of a corporation, but the law doesn't say that they must.
Corporate bylaws are legally required in Illinois. Illinois statute §805 ILCS 5/2.20 requires that bylaws be adopted either by shareholders at the first shareholder meeting or by directors at the initial director meeting.
Incorporating in Oklahoma typically involves the following steps: Submitting an Oklahoma Certificate of Incorporation. Holding an organizational meeting. Obtaining an EIN from the IRS. Filing a Beneficial Ownership Information Report. Applying for Oklahoma permits and licenses.
The bylaws may contain any provision for managing the business and regulating the corporation's affairs that is not inconsistent with statutory law or the corporation's Articles of Incorporation. The bylaws generally cover the areas of the corporation's internal management.
In summary, the Oklahoma General Corporation Act Oklahoma Statutes Title 18, Chapter 22 provides a comprehensive legal framework to ensure that homeowners associations are able to operate in a fair, transparent, and responsible manner.
