Indiana corporate bylaws are used as a reference on how a board of directors may call, conduct, and close meetings. If applicable, committees set up by the board should also be discussed. Ideally, a detail of how the corporation will act on the market and its internal policies will also be thoroughly spelled out in its bylaws.
This paperwork can be treated and stored as a private document but must be issued for approval by the first meeting of the Indiana corporation’s board of directors. Once ratified by the board, the bylaws should be kept available for presentation whenever needed.
Is it REQUIRED in Indiana?
Yes. To legally operate as a corporation, an entity’s board of directors must approve a set of bylaws to demonstrate compliance with Title 23 of Indiana Code (IC § 23-1-21-6).