What is typically included in corporate by-laws?

The inclusion of rules governing the corporation's operations is fundamental to corporate by-laws. By-laws serve as the internal regulations that dictate how a corporation conducts its business and organizes its affairs. This includes procedures for holding meetings, electing directors, appointing officers, and managing corporate finances. These operational guidelines help ensure that the corporation operates smoothly and in compliance with legal requirements.

The other options do not reflect the typical content of corporate by-laws. While the composition of the board of directors is important, by-laws encompass a broader range of governance topics. Annual financial projections and details of employee salaries are typically part of corporate planning and financial management, rather than being addressed in the by-laws. Therefore, the correct choice accurately captures the essence of what corporate by-laws include.