ï Bank-Owned Life Insurance (BOLI) is a special type of life insurance where the Bank is the owner and beneficiary of the policy. ï BOLI is an asset of the Bank and is normally funded with a single payment.
By-law. From Wikipedia, the free encyclopedia. (Redirected from Bylaw). A by-law (sometimes also spelled bylaw, by law or bye-law) is a rule or law established by an organization or community to regulate itself, as allowed or provided for by some higher authority.
The term business organization refers to how a business is structured. The business organization is defined in the bylaws when the business is formed with the name and contact information of those who own and run the company with their roles defined. The bylaws state the purpose of the organization and what it does. A sole proprietorship does not have bylaws because one person owns and controls the business.