Minnesota corporate bylaws should be presented for approval during the first board meeting of a Minnesota corporation. This document must match the information in the Minnesota corporation’s articles of incorporation and then continue to provide descriptions of the board of directors and how this board may act when determining company behavior and policy.
A set of bylaws used by a Minnesota corporation should demonstrate the intent and status of this entity, deliver the corporation’s financial overview, define its formal mission, discuss liability, and provide an overall picture of the corporation, its stock, and its shareholders. The State of Minnesota requires that any corporation operating within its borders operates legally and that its bylaws are compliant with the law.
Is it REQUIRED in Minnesota?
No. The State of Minnesota makes no demand for a corporation to operate under a set of bylaws but will enforce a signed contract that has been executed in compliance with the law.