North Carolina corporate bylaws are rules created by the board of directors/incorporators of a newly formed corporation to manage its internal affairs. The document details the rights and duties of the corporation’s officers, directors, and shareholders, how they may be appointed or removed, and how/when they will be required to meet to carry out corporate actions.
The execution of this document provides essential details on how the business will be run and helps prevent conflict between shareholders, officers, and directors. The state requires that each corporation draft corporate bylaws at the company’s inception; however, they may be amended based on the company’s changing needs.
- Bylaws: § 55-2-06
- Indemnification: Part 5. Indemnification
- Notice of meetings:
- Stock issuance & certificates: § 55-6-21