§149 Bylaws

Summary

Bylaws may say when and where stockholder and director meetings happen, how to call them and give notice, how meetings are run, and what counts as a quorum. They may set the number of directors, who can be a director, how directors are chosen, how long they serve, and their pay. There must be at least three directors. A majority of the directors, and the president and treasurer (or similar officers), must be citizens of the United States who live in China while in office. Bylaws may also set how payments on shares are requested and collected, penalties for not paying, how share certificates are made, how sales or transfers are recorded, and how shares are represented at stockholder meetings.