Chapter 6 Flashcards
1
Q
What are 5 good reasons to develop/implement policies and procedures?
A
- you won’t have to rely on memory to assure consistency in conducting business over time.
- to demonstrate thoughtful, thorough attention to business detail of all stakeholders.
- serves as evidence during legal proceedings
- to meet requirements of licensing or other agencies that may demand them.
- to reflect compliance and commitment to state and federal laws.
2
Q
What are bylaws?
A
- legal framework of a corporation that addresses procedures for holding meetings, electing officers, and defining the duties and powers of the corporation.
