By-Laws are like the official rule book of a corporation. They provide the corporation with the basic framework which governs how a company operates. By-Laws will set forth the rights and responsibilities of the officers, directors and shareholders. Some of the provisions contained in By-Laws are fairly standard, such as setting out voting procedures, or the issuance of company stock. Other provisions unique to your company requirements can be added accordingly. By-Laws should always include information pertaining to the rights and responsibilities of the shareholders, directors and officers. They also need to outline a protocol for handling financial matters and a procedure for amending the By-Laws. Once the document is prepared the directors and shareholders will need to formally adopt the By-Laws at their first meeting. These forms are not filed with the state (as are the Articles of Incorporation) but are kept in the corporate record book of the corporation. While By-Laws are used by corporations, they are also used with other types of business entities such as limited liability companies and partnerships.

It is important to note that properly drafted corporate documents are not only good business but can protect you from lawsuits in the future. It is important to have all of the company’s corporate documents up-to-date and in place. Failure to do so could result in personal liability should a lawsuit ever arise. This is called “piercing the corporate veil.”

Protect Yourself and Your Company by using our accurate and up-to-date forms

Among others, this form contains the following provisions:

• Title: Designates the name of the corporation, the state where incorporated, address of the corporate office and name and address of resident agent
• Shareholder Clauses: Includes information regarding meetings, rules for voting, rights and responsibilities
• Board of Director Clauses: Establishes the powers and responsibilities of the board, and addresses meetings, and voting rules
• Officer Clauses: Sets out the salaries of the Officers, their rights and responsibilities, their appointment and removal
• Financial and Stock Clauses: Sets out the procedures and rules for handling financial matters for the company, and handling stock

This attorney prepared packet includes:

1. Information about the Corporate By-Laws Kit
2. Instructions for the Corporate By-Laws Kit
3. By-Laws Checklist
4. Sample Clauses for Corporate By-Laws
5. Sample Completed Corporate By-Laws

State Law Compliance: This form complies with the laws of Rhode Island