Bill: Rejected Default Corporate Bylaws Act

[HugeBob]

A
BILL
To

Provide Basic Structure to Companies​

The people of Democracy Craft, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment
(1) This Act may be cited as the “Default Corporate Bylaws Act”.
(2) This Act shall be enacted immediately upon its signage.
(3) Authored by Representative hugebob23456

2 - Reasons
(1) As it currently stands, there is no legally binding document dictating the function of most companies.

3 - Terms
(1) Unless otherwise decided by the company, all registered companies shall operate on the following set of rules:
(a) All decisions shall be made by the CEO.
(b) The CEO shall be the person who controls more than 50% of shares in the company.
(c) If no such person exists, the CEO shall be the person who founded the company.