A detailed set of rules adopted by the board of directors after a corporation is incorporated that contains provisions for managing the business and the affairs of the corporation are referred to as ________.

Question

Quizplus · Accepted Answer

Bylaws are a set of rules that provide a framework for the internal governance of a corporation. They are adopted by the board of directors after the corporation is incorporated and contain provisions for managing the business and affairs of the corporation. Ultra vires rules refer to actions beyond the legal authority of the corporation, articles of incorporation are the legal document filed with the state to create the corporation, and corporation codes refer to the applicable laws and regulations for operating the corporation.

A Detailed Set of Rules Adopted by the Board of Directors