\bˈa͡ɪlɔːz], \bˈaɪlɔːz], \b_ˈaɪ_l_ɔː_z]\
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The rules that govern the internal affairs or actions of a corporation. Normally bylaws are adopted by the shareholders of a profit-making business or the board of directors of a nonprofit corporation. Bylaws generally include procedures for holding meetings and electing the board of directors and officers. The bylaws also set out the duties and powers of a corporation's officers.
By Oddity Software