Pennsylvania corporate bylaws are drafted at the time of a corporation’s formation to set forth provisions that will guide the entity’s internal operations. Shareholders with voting rights will have the authority to amend, repeal, or add to the initial bylaws. The document will detail company procedures on the execution of important documents, the rights and duties of officers/directors, and the scheduling of meetings.
The corporate bylaws also state how many members will make up the board of directors, and what voting percentage is required by both shareholders and board of directors in order to dissolve the corporation.
Bylaws required? No, the Pennsylvania law does not require the implementation of written corporate bylaws; however, it is still a recommended practice for all corporations.