By-laws

By-laws are rules established by a business for the purpose of regulating itself. They generally establish the methods of operation for a business, such as who makes decisions, and how and when decisions are made. The by-laws are drafted by the founding directors of the business -- often after consulting with their attorney. 

Common sections in by-laws:

Some common sections in by-laws include the name, purpose of business, members, officers, procedure for meetings, number of meetings, executive board, committees, voting and term limits.