Iowa corporate bylaws are rules and provisions that dictate how a corporation will function and be controlled by its board of directors. Corporate bylaws serve as a guide for business operations, relaying procedures for appointing officers, issuing stock, communicating with shareholders, and delegating authority to committees. Bylaws also define the number of individuals who must be present at meetings to act and make decisions for the business.
Bylaws are typically enacted during the first gathering of the initial directors. If the initial directors have yet to be chosen, the incorporators may adopt bylaws themselves or elect a board who shall adopt bylaws on behalf of the corporation.