While the Bylaws may be viewed as merely the implementation of a number of corporate formalities, they are essential to resolve potential future problems, as well as to evidence the corporation's adherence to its Articles and other legal requirements. As a practical matter, however, they do not impose any significant operational burdens so long as the shareholders continue to be in basic agreement on corporate directions that the Bylaws may be amended by action of the Directors except an amendment to the Bylaws changing the number of Directors which must be made by the Shareholders.
The information provided in this article is general information only and is not intended as legal advice. DO NOT use this information as a substitute for obtaining qualified legal advice or other professional help.
About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.