Get StartedThere are several corporate bylaws and either "organizational minutes" or "organizational consent."Some states offer corporations the option of electing to be organized as a "close corporation." If the corporation qualifies and makes such an election, it is allowed to operate under relaxed, partnership-type rules, allowing for less formal management by the shareholders instead of the directors and officers. However, few corporations actually make such an election and an informed decision to make such an election should only be carried out after consultation with a lawyer.IMPORTANT: State and federal securities laws require compliance with complex registration procedures unless the incorporation process meets a set of exemptions, including: (a) a very limited number of persons wi