单词 | bylaws |
释义 | bylawsbylawsBylawsBylawsThe rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an organization. bylawsn. the written rules for conduct of a corporation, association, partnership or any organization. They should not be confused with the Articles of Corporation which only state the basic outline of the company, including stock structure. Bylaws generally provide for meetings, elections of a board of directors and officers, filling vacancies, notices, types and duties of officers, committees, assessments and other routine conduct. Bylaws are, in effect a contract among members, and must be formally adopted and/or amended. (See: corporation) BylawsBylawsBylawsbylawsBylaws.Bylaws are the self-imposed rules governing an incorporated company. The bylaws cover details such as the structure of the company, what the company's goals are, and how often shareholders meet. They also explain the voting process and how officers, committees, and board members are chosen. A company can put almost any provisions in its bylaws, as long as the rules don't break federal or local law. bylawsRegulations by which an organization conducts its governance activities. They typically provide for the timing and method of elections and regular meetings,number of directors and other officers, methods and notice necessary for special elections or meetings, number of votes required for different types of actions, establishment of standing committees, and a grant of authority to organize other committees,powers of the board,officers,and various committees.The developer of a subdivision or condominium project typically creates the first set of bylaws and appoints the initial board of directors. |
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