Pennsylvania Sample Letter regarding Organizational Minutes and Bylaws of Corporation
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How to fill out Sample Letter Regarding Organizational Minutes And Bylaws Of Corporation?
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FAQ
Do bylaws need to be signed? Technically, it's possible for a board of directors to adopt bylaws without signing them. However, signing your bylaws demonstrates that everyone is on the same page about how your corporation will function.
If initial directors have not been named in the articles, the incorporator or incorporators, until the directors are elected, may do whatever is necessary and proper to perfect the organization of the corporation, including the adoption and amendment of bylaws of the corporation and the election of directors and ...
OFFICERS: The three required positions are President, Secretary and Treasurer.
Does Pennsylvania require corporate bylaws? Pennsylvania's statute's don't explicitly state that you need corporate bylaws. However, Pennsylvania Consolidated Statute § 1310 implies the necessity of bylaws by stating that an organizing meeting ?shall be held? for the purpose of adopting bylaws.?
Corp. Code § 307(b) provides, "An action required or permitted to be taken by the board may be taken without a meeting, if all members of the board shall individually or collectively consent in writing to that action and if the number of members of the board serving at the time constitutes a quorum.
Corporations are required to have not less than three directors unless (1) shares have not been issued, then the number can be one or two, (2) the corporation has one shareholder, then the number can be one or two, or (3) the corporation has two shareholders, then the number can be two.
It is important to realize, however, that bylaws are not required as a matter of law with one exception. Bylaws are required when the articles of incorporation do not specify the number of directors in a corporation.
Pennsylvania Business Corporation Law of 1988 defines Corporation or Domestic Corporation as a corporation incorporated for profit under the rules of the Commonwealth of Pennsylvania. One or more corporations for profit or not-for-profit or natural persons of full age may incorporate a business corporation.
