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Corporate bylaws are essential rules that define how an organization operates, typically drafted and signed by the board of directors mentioned in the articles of incorporation. Required in 31 states, these bylaws should include the organization's name, board of directors, stock certificates, voting rights, committees, and quorum determination. A quorum refers to the minimum number of directors or shareholders needed for a meeting, usually a majority. To create bylaws, gather the original incorporators to choose the organization’s leaders, as a majority is often needed for decisions. The video also covers the types of organizations and offers guidance on obtaining an official fillable template for drafting bylaws.
