Updated May 31, 2022
Maryland corporate bylaws organize the internal affairs of a corporation by defining the business’s management structure and daily operational procedures. Corporate bylaws are adopted at the first organizational meeting between the board of directors following the formation of the corporation. At the meeting, the board will set forth rules concerning the corporation’s shareholders, officers, committees, annual meetings, stock issuance procedures, and other provisions relevant to the effective maintenance of the corporation’s internal affairs.
Required in Maryland? Yes (§ 2-109(a)(1))