Iowa corporate bylaws must be successfully placed by a company’s board of directors early in its life span. An Iowa corporation’s bylaws should explain its internal policies and deliver the identities of its directors and officers. Generally, the corporate bylaws should be developed to fully define the corporation’s operations and its properties.
Everything from the manner in which an ad hoc committee may be assembled to the class of stock available should be settled through this paperwork and then passed by the Iowa corporation’s governing body. Naturally, the State of Iowa will expect and require that the corporation and its board operate in accordance with its bylaws.
Is it REQUIRED in Iowa?
Yes. Iowa Code §490.206 makes it necessary for a corporation in this state to have its corporate bylaws in place to operate legally