In a public corporation, shares of stock trade on a public stock exchange. The U.S. Securities and Exchange Commission requires public corporations to file corporate bylaws in the public record.
Private individuals and companies own shares of stock in a private corporation, but the stock does not trade on a public stock exchange. The law does not require the filing of private corporate bylaws in the public record.
Publication Of Bylaws
Privately owned corporate bylaws become part of the public record in several ways. An owner of the company voluntarily discloses the bylaws. A court-issued subpoena in litigation compels public disclosure of bylaws. SEC filing regulations require private company bylaws to be in the public record if a public corporation acquires or sells the private company.
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