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Corporations • Formation Requirements
CORP#011
Legal Definition
No. A corporation need not adopt bylaws. The board of directors has the power to adopt and amend bylaws, unless the articles of incorporation give such power to the shareholders instead.
Plain English Explanation
A "bylaw" is a rule that an organization creates to govern the actions of its members. By default, a corporation doesn't need to have any bylaws, but its board of directors has the power to create and modify them unless that power was given to shareholders when the company was originally incorporated.
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