Under the Florida Business Corporation Act, the corporation must have bylaws. Florida law states that the corporation can contain any provision for managing and regulating the affairs of the corporation that is not out of alignment with the law or the corporation's articles of incorporation.
Bylaws generally define things like the group's official name, purpose, requirements for membership, officers' titles and responsibilities, how offices are to be assigned, how meetings should be conducted, and how often meetings will be held.
These continuous requirements include those related to the following: Taxes. Corporations must file their annual tax returns. Securities. Corporations must issue stock as their security laws and articles of incorporation mandate. Bookkeeping.Board meetings.Meeting minutes.State registration.Licensing.
Personnel Requirements Number of officers or directors: Your corporation must have at least one officer, director or incorporator. You don't have to disclose officers or directors in your Articles of Incorporation. However, you must include your incorporator.
Bylaws are your organization's operating manual. They define: Size of the board and how it will function. Roles and duties of directors and officers. Rules and procedures for holding meetings, electing directors, and appointing officers.
Your bylaws should list the titles of the officers of the corporation?such as president, vice president, secretary, and treasurer?and describe their duties. Bylaws also explain how officers will be chosen and how they can be removed.
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.
Recruit and/or appoint a director or directors for the corporation. Under Florida law, a corporation must have at least one director. Directors must be at least eighteen years old. Directors need not be residents of Florida or shareholders of the corporation, unless the articles of incorporation so require.
Company bylaws are the rules that govern how a company is run and one of the first items to be established by the board of directors at the time a company is started. Such bylaws are created usually after the Articles of Incorporation are submitted, which is why a lot of people often get confused between the two.
(1) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation unless that power is reserved to the shareholders by the articles of incorporation.