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By-laws may be established by entities such as a business corporation, a neighbourhood association, or depending on the jurisdiction, a municipality. In the United Kingdom and some Commonwealth countries, the local laws established by municipalities are referred to as by ( e ) -laws because their scope is regulated by the central governments of ...
The articles of incorporation outline the governance of a corporation along with the corporate bylaws and the corporate statutes in the state where articles of incorporation are filed. To amend a corporate charter, the amendment must usually be approved by the company's board of directors and voted on by the company's shareholders. [16]: 10
The legal ending indicates that it is in fact a legal corporation and not just a business registration or partnership. Incorporated, limited, and corporation, or their respective abbreviations (Inc., Ltd., Corp.) are the possible legal endings in the US. Usually, there are also corporate bylaws which must be filed with the state. Bylaws outline ...
Through the operational life of the corporation, perhaps the most crucial aspect of corporate law relates to raising capital for the business to operate. The law, as it relates to corporate finance, not only provides the framework for which a business raises funds - but also provides a forum for principles and policies which drive the ...
Individual rules for corporations are based upon the corporate charter and, less authoritatively, the corporate bylaws. [45] Shareholders cannot initiate changes in the corporate charter although they can initiate changes to the corporate bylaws. [45] It is sometimes colloquially stated that in the US and the UK that "the shareholders own the ...
An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. [2] A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. [3]