Warning
Info
Warning
Info
Simple English definitions for legal terms
bylaw
Read a random definition: judicial mortgage
A quick definition of bylaw:
Term: Bylaw
Definition: Bylaws are rules that a company or organization creates to manage how it operates. They help employees and organizations understand their rights and responsibilities within the company. Bylaws cover things like how meetings are held and what happens if the company dissolves. They provide a framework for how the organization is run. Bylaw can also refer to a local rule made by a city or town.
A more thorough explanation:
Definition: Bylaws are rules and regulations established by a company or organization for internal management. They are used to determine the rights and responsibilities of employees and organizations within a corporate body, and to regulate various matters such as holding meetings, causes of dissolution, etc. Bylaws provide a framework for the operation and management of an organization. Bylaw can also refer to a local regulation of a municipality.
- A company's bylaws may outline the roles and responsibilities of its board of directors, the process for electing new board members, and the procedures for holding shareholder meetings.
- A non-profit organization's bylaws may specify the qualifications for membership, the process for electing officers, and the rules for fundraising and financial management.
- A municipality's bylaws may regulate things like noise levels, parking, and building codes.
These examples illustrate how bylaws are used to establish rules and procedures for various types of organizations. Bylaws help ensure that everyone within the organization understands their roles and responsibilities, and that the organization operates in a fair and transparent manner.