Maryland corporate bylaws are implemented during the organizational stages of a corporation to outline how the business will operate and be managed internally. Whereas the Articles of Incorporation are drafted for formational purposes, corporate bylaws contain the provisions necessary to regulate the entity’s day-to-day activity. They specify procedures for calling meetings, appointing and removing directors, establishing committees, communicating with shareholders, and voting.
Corporate bylaws must be enacted at the first organizational meeting of the initial directors. Three (3) days before the meeting, the individual calling the meeting shall notify the other directors in writing of the meeting date and location.
Chapter: Title 2 – Corporations in General
- Bylaws: § 2-109
- Indemnification: § 2-418
- Notice of meetings:
- Stock issuance & certificates: § 2-201, § 2-210, § 2-211