Bi-Laws of a Non-Profit Church Corporation
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The bylaws of a corporation are the internal rules and guidelines for the day-to-day operation of a corporation, such as when and where the corporation will hold directors' and shareholders' meetings and what the shareholders' and directors' voting requirements are. Typically, the bylaws are adopted by the corporation's directors at their first board meeting. They may specify the rights and duties of the officers, shareholders and directors, and may deal, for example, with how the company may enter into contracts, transfer shares, hold meetings, pay dividends and make amendments to corporate documents. They generally will identify a fiscal year for the corporation.
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