By-laws

At the organizational meeting of a corporation, the Board of directors must take certain actions to incorporate the corporation. In the past, directors were adopting general rules that governed the internal affairs of the corporation. Now, the corporation is adopting "internal rules." The Quebec Business Corporations Act does not provide any requirements for the content of the by-laws, as opposed to the previous Act. The corporation now has a leeway and even discretion in the implementation of its by-laws and organization of its interal affairs.