New Jersey corporate bylaws should be executed by its incorporator or through a positive vote of its governing body such as its board of directors or shareholders. Once instituted a New Jersey corporation will have a set of written regulations that can be used to govern meetings, protocols, and the interactions of the directors or officers that must be named in the bylaws.
Since a New Jersey corporation must operate under the bylaws its board has passed, the manner by which they may be amended by the board or the officers should be included in its provisions. This enables a steady policy and established definitions while also allowing the flexibility needed to update the provisions when needed.
Is it REQUIRED in New Jersey?
Yes. New Jersey corporations will have to pass their bylaws during their initial board meeting to operate legally in this state as required by NJ Rev Stat § 15A:2-10 (2015).