Did You Make Any Of These Mistakes In Your Bylaws?
Corporate Bylaws, as well as Articles of Incorporation, are a crucial foundation for any business.
It is important that you have these set up in a proper way. You don’t want to leave out any of these essential features:
Not just a name.
Make sure you also mention in your Corporate Bylaws the purpose of your business. Ask yourself, “What is the purpose for why we exist and do business in the first place”.
Not just your membership procedures.
Also include the full rights and procedures for voting, removal and any other activity that you think your body of active participants will be involved with. Ask yourself, “What do I want my members doing and how do I want them doing it?”. Also, “What must I do to remove them should they not comply?”.
Not just a Board of Directors
Same rules apply here as well. What is the fullest range of description for their activity?How will they get elected? How long will they serve? Be sure and ask all these questions and answer them as clearly as possible.
Not just Meetings
Of course you are going to hold meetings, but what are your meeting procedures? What are your rules for a qualifying attendance? Most importantly ask yourself, “What number of votes is needed for a quorum (The number of directors needed to vote for on issue at hand).
Corporate Bylaws are “Not just any ole’ document”.
Do it well and it will protect and safeguard against any liabilities and serve as a protection backdrop to your business as a whole.
Do it poorly and trouble is sure to come.
You don’t have to do it alone. We can help. Our team has helped assemble and create bylaws for a many different profit and non-profit organizations. We are fully equipped to help and get you on your way.