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Corporate bylaws are essential rules that dictate how an organization or corporation operates, typically created by the board of directors as stated in the articles of incorporation. Required in 31 states, corporate bylaws should encompass the organization's name, board members, stock certificates, voting rights, committees, and a quorum definition—the minimum number of participants needed for meetings, usually a majority. To create bylaws, the original incorporators must convene to choose leaders, typically requiring a majority of two. The video also outlines different types of organizations and how to acquire an official fillable template for drafting bylaws.
