Which of the Following Best Describes the Function of the By-

Multiple Choice

Which of the following best describes the function of the by- laws of a corporation?

A) They regulate the rights of creditors who hold a secured equity position.
B) They contain the licensing statutes of the jurisdiction(s) where the corporation operates.
C) They provide the general operating rules to run the business of the corporation.
D) They describe acts which are illegal and for which the directors of a corporation can be punished by law.
E) They are filed with the incorporating papers and take a special shareholders resolution to change their contents.