2016-12-15 00:00:00 Business Law English Learn what bylaws are and the usual content of the bylaws of a not-for-profit corporation in Canada. https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214554/Non-profit-business-employee-by-car-viewing-data-on-smartphone-in-front-of-brick-building.jpg Small Business Term: Non-Profit Corporation By-laws

Small Business Term: Non-Profit Corporation By-laws

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All nonprofit corporations are legally obligated to have bylaws. The bylaws set out the rules for governing and operating the corporation on a day-to-day basis. The directors of the nonprofit corporation use the bylaws to determine how to make decisions and how the corporation will operate.

Usual provisions include the determination of the financial year end, the qualifications required for membership, banking arrangements, provisions as to year-end statements, and detailed rules regarding annual meetings and special meetings of members.

The bylaws can change as the corporation’s activities evolve. To do this, the board of directors must adopt the change, and the members must confirm it in a general meeting.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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