Vermont corporate bylaws must be kept in effect, current, and followed by corporations in this state. These regulations will be expected to be approved by the Vermont corporation’s board of directors as early as possible upon the acceptance of its articles of incorporation. The corporate bylaws in Vermont can be stored privately in a corporation’s files but should remain available since financial institutions and other entities in the private sector may require proof of a Vermont corporation’s operations.
The board of directors, officers, or the incorporator determining the Vermont corporate bylaws that will be engaged should present all the information needed to define the entity. Thus the Vermont entity’s board should be prepared to document descriptions regarding the corporation’s governing body, its tax status, its stock options, and corporate policies with full a description of its officers with their level of authority.
Is it REQUIRED in Vermont?
Yes. 11A V.S.A. § 2.06 of Vermont statutes mandate the adoption of bylaws by corporations operating in this state. This can be done through the board of directors or the incorportor(s) but should be completed by the first board meeting.
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