There is a lot involved in the business formation process. One of the first things business owners in Louisiana need to do is write company bylaws. Doing this can be more difficult and involved than one might think.
What should be included?
Company bylaws cover a lot of ground. There are quite a few things that should be included, especially for larger companies. Some items to address include:
- Business name and other identifying information
- Meeting procedures
- Record-keeping procedures
- Bylaw amendment procedures
- Stock and shares information
- Director and corporate officer information
The list can go on. Overall, the bylaws are what dictate operating procedures and standards. It is basically a set of rules by which the directors and officers must abide.
Be careful; wording is everything
How bylaws are written is just as important as what topics are covered in this document. In the legal world, wording is everything. One wrong word, unclear phrases or missing information, among other things, can all cause significant problems down the line.
Don’t go it alone
Business owners in Louisiana do not have to go about writing their bylaws on their own. They have every right to seek assistance completing this task. An experienced business law attorney can help by going over bylaw must haves with business owners to ensure they cover everything they should and discuss any wants that company owners feel are wise to include. When all is said and done, business owners will walk away with bylaws that are properly written and offer the information and protections they need and desire.