Drafting a set of bylaws when forming a new corporation can help establish the rules and regulations of your entity. This document would be filed internally and not with the state and is therefore not legally required by state law. That being said, the creation of a corporate bylaw comes highly recommended as a number of essential provisions stated within this agreement would otherwise be left undocumented without it. It is advisable to seek legal counsel before implementing an agreement of this nature into your business structure in order to ensure that its terms and conditions serve the corporation’s interests as effectively as possible. A free template has been made available for download at the top of this webpage and on the image below in MS Word and PDF formats