casemark/corporate-bylaws

Corporate Bylaws

Produces a complete, internally consistent set of bylaws matched to the corporation's Articles, jurisdiction, ownership structure, and governance philosophy.

Prerequisites

1. Articles of Incorporation — filed copy; extract: legal name, state, authorized share classes/counts, par value, liability/indemnification provisions, bylaw amendment restrictions
2. State statute — identify jurisdiction; research mandatory vs. default provisions, notice periods, quorum floors, virtual meeting rules, indemnification scope
3. Governance intake — ownership structure (closely-held vs. dispersed), IPO plans, board size/structure, voting standard preference, cumulative voting stance, written consent policy, officer positions

Quick Start

Draft bylaws using Articles I–IX below. Flag unresolved choices with [CLIENT CHOICE] and statutory questions with [VERIFY: jurisdiction].

Article Structure

I — Corporate Identity

• Name: exact match to filed Articles including designator
• Purpose: general business clause unless professional/benefit corp requires specificity
• Principal office: full address; board may relocate without amendment
• Registered office: distinguish from principal; reference statutory agent

II — Shareholders

Meetings

• Annual: board-determinable date within 13 months of prior; in-person/virtual/hybrid [VERIFY: jurisdiction]
• Special: called by board, Chair, CEO, or shareholders holding ___% (10% closely-held; 25%+ dispersed)

Notice: 10–60 days (verify state floor); state date/time/place; special meetings must describe purpose; specify deemed-given rules per delivery method

Quorum & Voting

• Quorum: majority of outstanding voting shares (may reduce to 1/3 in most states)
• Routine matters: majority of shares present at quorum
• Fundamental transactions: majority or supermajority of all outstanding [CLIENT CHOICE]
• Cumulative voting: include mechanics or expressly disclaim [CLIENT CHOICE]

Proxies: written or electronic; 11-month default duration; revocable unless coupled with interest

Written Consent: permitted or prohibited [CLIENT CHOICE] — prohibit if IPO anticipated; if permitted, specify threshold and notice to non-consenting shareholders

III — Board of Directors

Composition: fixed number or range with board discretion [CLIENT CHOICE]

Structure

| Type | Use Case | |---|---| | Unitary (annual) | Shareholder accountability; preferred for closely-held | | Classified (2–3 yr terms) | Continuity; takeover defense |

Voting standard: plurality (seats always filled) or majority with resignation/holdover policy [CLIENT CHOICE]

Removal: with or without cause [CLIENT CHOICE]; majority or supermajority of outstanding shares

Meetings: quarterly minimum for regular (no notice if pre-scheduled); special called by Chair, CEO, or 2 directors; quorum = majority of directors in office; action = majority present; remote permitted; unanimous written consent in lieu

Conflicts: mandatory disclosure; interested director abstains; safe harbor = disinterested director/shareholder approval [VERIFY: jurisdiction]

IV — Officers

Required (verify state minimums): President/CEO, Secretary, Treasurer/CFO

Authorities

| Officer | Core Authority | |---|---| | CEO/President | General supervision; execute contracts within board thresholds; hire/terminate | | Secretary | Minutes, stock ledger, notices, record authentication, seal custody | | CFO/Treasurer | Funds custody, financial records, banking, checks/EFTs within board limits |

Board may create additional positions by resolution. Board may remove any officer with or without cause (does not affect employment contract rights).

V — Committees

Formed by board resolution. Non-delegable functions (statutory): amend Articles/bylaws, approve mergers/asset sales, declare dividends, authorize shares beyond limits, fill board vacancies (check state law).

Standing committees to consider: Audit (financial integrity, auditor oversight), Compensation (executive pay, equity plans), Nominating/Governance (candidates, evaluations) — all composed of independent directors.

VI — Capital Stock

• Form: certificated or uncertificated book-entry [CLIENT CHOICE]
• Issuance: per board resolution within Articles limits
• Transfers: record in stock ledger; require proper endorsement; may refuse non-compliant transfers
• Lost certificates: affidavit + indemnity bond (___× value) + replacement fee

VII — Indemnification

• Mandatory: directors/officers wholly successful on merits — indemnify all expenses
• Permissive: directors, officers, may extend to employees/agents — requires good faith standard (civil: best interests; criminal: no reasonable cause to believe unlawful)
• Prohibited: liability to corporation in derivative action; improper personal benefit
• Expense advancement: mandatory or permissive [CLIENT CHOICE]; require repayment undertaking (need not be secured)
• D&O insurance: explicitly authorize, including unindemnifiable liabilities
• Savings clause: rights non-exclusive; maximum protection permitted by law

VIII — Financial and Administrative

• Fiscal year: calendar or ___; board may change by resolution
• Books/records: maintain at principal office; identify shareholder inspection rights per statute
• Contract execution: tiered approval thresholds (officer / CEO / board) by dollar amount
• Checks/EFTs: designated officers; co-signature above $___
• Seal: optional; authorize use and custody

IX — Amendments

| By | Vote | Scope | |---|---|---| | Board | Majority at quorum | All unless Articles reserve to shareholders | | Shareholders | Majority of outstanding (supermajority for protected provisions) | All |

Supermajority protection (2/3 or 3/4) for: indemnification, quorum floors, fundamental transaction thresholds, amendment provision itself [CLIENT CHOICE]. Verify Articles for restrictions on board amendment authority.

Checks

• Articles supremacy: cross-check every provision — Articles prevail in any conflict
• Mandatory vs. default: only opt out of defaults with specific governance reason
• Closely-held vs. dispersed: simplify formalities for closely-held (lower quorums, broader consent); tighten for dispersed
• IPO readiness: if anticipated, align with NYSE/Nasdaq standards — prohibit written consent, adopt majority voting, expand independent director requirements
• Internal consistency: verify all cross-references, defined terms, quorum thresholds, notice periods, and voting standards
• Citations: mark all statutory references with [VERIFY] — do not assert section numbers without confirming current codification
• Jurisdiction: Delaware GCL differs materially from MBCA defaults — confirm applicable statute before drafting