1132. Set of rules made by corporation founders such as directors election procedure are classified as

✅ The correct answer is B.
Set of rules made by corporation founders such as directors election procedure are classified as by laws. Corporate bylaws (sometimes spelled “by-laws”) are the rules of a corporation, established by the board of directors during the process of starting a corporation. When a corporation is formed (a process called incorporation), one of the first tasks of the new corporation is to have corporate bylaws formed.