The initial bylaws of a corporation shall be adopted by its board of directors. The power to alter, amend, or repeal the bylaws or adopt new bylaws shall be vested in the board of directors unless otherwise provided in the articles of incorporation or the bylaws.
Unlike other business entities, corporations in Florida must have bylaws or a set of internal rules that govern their structure and operation. If you have no experience drafting bylaws, the process may seem daunting. However, the good news is that there is no standard way to write bylaws.
(1) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation unless that power is reserved to the shareholders by the articles of incorporation.
The Florida Business Corporation Act requires a Florida corporation to have bylaws. The law requires a corporation to adopt provisions for managing and regulating its activities, so long as these provisions are in accordance with the corporation’s articles of incorporation and the law.
Is it REQUIRED in Florida? Yes. Florida demands that bylaws be passed and maintained in a Florida corporation as per Florida Statute § 607.0206.
While you’re not required to sign your bylaws according to Florida statutes, it’s a good idea to have board members and officers sign the bylaws to reinforce the validity of the document.
Florida corporate bylaws are a legal necessity that set the framework for a corporation’s operations and management, ensure smooth functioning, and define roles and responsibilities within the corporation.
An Operating Agreement (for LLCs) and Bylaws (for Corporations) are internal legal documents that outline how a business is run, who is in charge, and how key decisions are made.
In Florida, you create a corporation by filing "articles of incorporation" with the Department of State's office and paying a filing fee. You'll also need corporate bylaws and resolutions signed by the board of directors, though these documents don't need to be filed with the Department of State.
Corporate Bylaws – The directors or incorporators must adopt an initial set of bylaws with provisions in compliance with state law and the articles of incorporation.
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