Co-op Bylaws and Other Governance Documents
Bylaws and Operating Agreements can be living documents that create systems for your organization to thrive as a worker-owned business. Below you will find sample Articles of Incorporation, Bylaws, Operating Agreements, and Disclosure Documents. Please note that these are for instructional purposes only! Please consult with an attorney!
First, lets go through a short introduction into what these different documents are, the differences between them, and when to use them. Bylaws and operating agreements are both documents that regulate the internal affairs and governance of a business or organization. The difference between them is that Bylaws are used for corporations and Operating Agreements are used for Limited Liability Companies (LLC). This might seem like just a bit of legal semantics, but it is not! The legal entity you form as will determine the constraints and provisions required by law in your Bylaws or Operating Agreement. The type of legal entity you choose and the provisions you write into your Bylaws or Operating Agreement will have an affect on how your organization is viewed regarding taxes, employment law, securities law (how you can finance your operations), and more.