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.
Unlike an LLC, a corporation must have bylaws. These bylaws are the primary governing document of the corporation. They usually indicate the number of directors, how the directors are elected, what type of notice is required for meetings, and what type of corporate officers should be appointed. An LLC has no bylaws.