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Corporate bylaws are essential rules that guide an organization or corporation's operation, typically drafted and signed by its board of directors as outlined in the articles of incorporation. Required in 31 states, the video tutorial covers key components to include in bylaws, such as the organization's name, names of the board of directors, stock certificates, voting rights, committees, and quorum determination. A quorum is the minimum number of directors or shareholders needed for a board meeting, often a majority. The tutorial also explains how to create bylaws by gathering the original incorporators to select organizational leaders, emphasizing that a majority of two-thirds may be needed in some states for decisions.
