Updated April 25, 2023
Vermont corporate bylaws are a document created by the incorporator or board of directors of a corporation to manage business and govern internal affairs. Created after the articles of incorporation are filed, the bylaws define how the directors and officers can be elected and terminated, when and where the shareholders will meet, how shares will be issued and dividends paid out, and the creation and powers of special committees. Any other provisions related to the structure, organization, and management of the corporation may be included in the bylaws as long as it is consistent with the articles of incorporation and Vermont law. The board of directors may amend the bylaws from time to time as the company changes but these amendments must be approved by the shareholders.
Laws
- Annual Meetings – 11 V.S.A § 7.01
- Corporate Bylaws – 11V.S.A. § 2.06
- Issuance of Stock – 11V.S.A. § 6.21