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The function of a corporation charter is to establish the basic elements for an incorporated business enterprise. For example, a corporation charter sets forth the activities the corporation intends to engage in once established.
They also let you specify shareholder ownership rights, select officers and directors, plan annual meetings and the create rules around the removal of officers or directors. Corporate Bylaws also describe how stock is issued by the corporation. By creating Bylaws, you'll clearly define how your corporation will run be and you'll set expectations for shareholders, officers and board members. Other names for this document: Corporation Bylaws, Company Bylaws, Bylaws Template.