Traditionally, companies that receive money from accredited investors to accelerate corporate growth will establish a board of directors (as outlined in the bylaws of the corporation) that is comprised of said investors and several key company executives.

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If criminal charges were filed--even without ever being tried--AIG's stock price would plummet, institutional holders would be forced to sell because of their own bylaws, and the company could lose the sterling credit quality it needed to write insurance and derivative contracts on favorable terms.

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The company bylaws entitle customers to choose where 40% of the profits earmarked for donation go, while employees delegate another 30%.

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Gama's bylaws stipulate that no one may have more than 15% of the voting rights in the proposed new company.

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