Delaware corporate bylaws are the rules created by the incorporators or board of directors of an organization for the purposes of establishing the structure of the entity’s operations and the governance of the affiliated parties. Key components of a set of bylaws are board of directors information and election procedures, officer responsibilities, shareholder rights and voting, meeting information, and quorums.
A corporate bylaws document is an internal document, so it doesn’t need to be filed with the Secretary of State like the articles of incorporation. The directors and officers will be able to refer to the bylaws when they need to resolve disputes both internally and with outside parties.
Chapter: Title 8, Chapter 1