Utah corporate bylaws are drafted by the board of directors or incorporators of a corporation to govern the entity’s internal structure and affairs. The document is executed after the entity has been legally created by filing Articles of Incorporation with the Secretary of State. Unlike the majority of states, Utah doesn’t require corporations to adopt bylaws. However, it is standard practice for corporations to adopt bylaws after the entity’s legal creation. Furthermore, the bylaws are usually required by financial institutions and investors before a financial transaction can take place.
Corporations adopt bylaws to establish how directors and officers will be elected, how and where meetings will be held, how stocks will be issued, and to generally control the entity’s internal operations.
Bylaws required? No, Utah law does not require corporations to adopt corporate bylaws but it is recommended.