{"ok":true,"canonical_url":"https://dealroom.so/glossary/bylaws","api_url":"https://dealroom.so/api/public/glossary/bylaws","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"bylaws","term":"Bylaws","group":"People and paperwork","definition":"The foundational rules for a corporation, detailing its governance, meetings, and responsibilities of directors and officers. Buyers must review these to understand the corporate structure and decision-making processes.","what_it_means":"If you're acquiring a C-Corp or S-Corp, Bylaws are critical. They define how the board operates, how officers are elected, and the procedures for corporate actions. Verify that the company has followed its Bylaws, especially for past decisions like issuing shares or taking on debt.","url":"https://dealroom.so/glossary/bylaws","official_sources":[],"related":[{"slug":"corporation","term":"Corporation","url":"https://dealroom.so/glossary/corporation"},{"slug":"llc","term":"LLC","url":"https://dealroom.so/glossary/llc"},{"slug":"operating-agreement","term":"Operating Agreement","url":"https://dealroom.so/glossary/operating-agreement"},{"slug":"shareholder-agreements","term":"Shareholder Agreements","url":"https://dealroom.so/glossary/shareholder-agreements"}],"related_questions":[]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Bylaws","url":"https://dealroom.so/glossary/bylaws","source_type":"DealRoom Data"}}