Понятно? Где будем талию делать ? (с)

А Блэк-то что пишет?

Есть под рукой кое-что из Barron's, перепечатывать лень, но, имхо, тоже говорит в пользу У.Д.

Articles of Incorporation - document filed with a U.S. state by the founders of a corporation. After approving the articles, the state issues a certificate of incorporation; the two documents together become a CHARTER that gives the corporation its legal existence. The Charter embodies such information as the corporation's name, purpose, amount of authorised shares and number and indentity of directors. The corporation's powers thus derive from the laws of the state and from the provisions of the charter. Rules governing its internal management are set forth in the corporation's BYLAWS, which are drawn up by the founders"

Barron's Dictionary of Finance and Investment Terms

Americana

bylaws n. the written rules for conduct of a corporation, association, partnership or any organization. They should not be confused with the articles of incorporation, which only state the basic outline of the company, including stock structure. Bylaws generally provide for meetings, elections of a board of directors and officers, filling vacancies, notices, types and duties of officers, committees, assessments and other routine conduct. Bylaws are in effect a contract among members and must be formally adopted and/or amended.
(не знаю, откуда :))

Tercium non datur (c)
:0)