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The next step after a business is incorporated in the state of Delaware is usually to hold an initial meeting of the Board of Directors.
The Delaware corporation bylaws are often adopted during this meeting.
Bylaws set the rules for the company, including stockholder meeting procedures, stockholder and/or officer duties, voting regulations, day-to-day guidance and more-all of which help the business run smoothly.
Bylaws are customized for each corporation, and every corporation has the right to adopt, amend and repeal its bylaws, per Delaware General Corporation Law §122(5).
Bylaws may be different for each company, but they typically contain the following information:
A Delaware corporation's bylaws should not be confused with its Articles of Incorporation. While bylaws detail a corporation's structure and daily operations, the Articles of Incorporation outline the basics of the corporation-the name of the company, the name of the Registered Agent and the authorized number of shares the corporation can issue.
This document is filed with the state of Delaware whereas the corporate bylaws are internal and not required to be disclosed to the Registered Agent or the state of Delaware.
A helpful guide to creating your bylaws is included in our formation packages.
For more information on our packages, please consult our experienced staff via phone (800-345-2677), email or live chat. To form a corporation now, simply click on the button below.Form a Delaware Corporation Now
The HBS Blog offers insight on Delaware corporations and LLCs as well as information about entrepreneurship, startups and general business topics..
Harvard can provide assistance throughout the life of your company. These custom services are the most popular with our clients: