Without nonprofit bylaws, your corporation is open to disputes that might result in state involvement. The bylaws are a clear and legally binding set of rules and regulations for how disputes should be handled. When a company forgoes bylaws—or creates incomplete bylaws—the nonprofit is open to disputes over things such as voting, amendments, and quorum settling. The state can then get involved in deciding the legal course of action, reducing your control over the nonprofit’s internal processes.
“The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 2nd Regular Session, which convenes in January 2022.”