Difference between Rules and Bylaws
A bylaw is a set of rules that can be changed or repealed at any time, whereas a rule is unalterable and must not be changed. Bylaws govern common property, common assets, and strata lots. Rules govern common property and common assets. Bylaws are legally enforceable documents that instruct the corporation, shareholders, officers, and directors how the affairs of the business must be conducted.
Comparison between Bylaws and Rules
Bylaw is a rule adopted by an organization in order to regulate its own affairs and the behavior of its members. The key differences between bylaws and standing rules relate to scope and effect. Bylaws are more overarching and procedural, while standing rules are specific and administrative.
Bylaw or By-law
Both spellings are correct. Traditionally "by-laws" used a hyphen as a compound noun combining "by" and "laws." Now the trend omits the hyphen in "bylaws." Some organizations still use "by-laws."
A bylaw applies only to an organization or local area. Bylaws establish an organization’s structure and rules. Declarations or covenants, conditions and restrictions (CC&Rs) define property uses. Rules and regulations cover guidelines and restrictions.