Which of the following is a requirement for a by-law to be valid?

A valid by-law must indeed be consistent with the Articles of Incorporation. The Articles of Incorporation serve as the foundational document of a corporation, outlining its purpose, structure, and governance. By-laws operate as the internal rules of the corporation, detailing the procedures and regulations for the operation of the company. If by-laws contradict or are inconsistent with the Articles, they could undermine the authority and legal standing of the by-laws themselves, potentially causing confusion and legal issues regarding the governance of the corporation.

While other options may pertain to certain administrative or procedural practices followed by corporations, such as filing with regulatory bodies or requiring shareholder approval, these are not universal requirements for the validity of by-laws. Specifically, by-laws do not necessarily need to be filed with the SEC, nor do they require public publication, and their approval process can differ based on the structure of the corporate entity and its governing documents. Thus, the fundamental requirement that ensures a by-law's legitimacy is its consistency with the Articles of Incorporation.