Bylaws address the guidelines relating for the board of directors, like the quantity of directors, the election and nomination processes, the powers of the directors, plus the directors’ terms and duties. Officers and agents may also be covered inside the bylaws, like their titles, responsibilities, duties, elections, and terms. Other sections identified in bylaws relate to committees of your board, insurance coverage and indemnification provisions, conflicts of interest, the fiscal year of your organization, how the books of your organization are to become handled and who maintains them, how the bylaws are to become amended, how the organization should really be dissolved, and when the organization is hoping to achieve tax-exempt status, a prohibition against private benefit (in order that all of the assets of your organization are going to be transferred to a further tax-exempt organization upon its dissolution).
The world wide web has numerous examples of bylaws for nonprofit organizations, and also a speedy search can get you began on how your organization’s bylaws should really appear and really feel. By way of example, you could obtain the bylaws of your American Red Cross at www.redcross.org/images/pdfs/bylaws.pdf. Also, you could obtain the bylaws for the International Trademark Association at www.inta. org/index.php?option=com_content&task=view&id=1230&Itemid= 84&getcontent=4.