Unlike the Rules of Acquisition, the By-Laws were very much a legal code. While the Rules were intended to be a philosophical guide to the acquisition of wealth, the By-Laws regulate commerce through strict rules on taxes and trade, as well as ensuring that all business conducted by Ferengi adhered to traditional cultural values. The By-Laws prohibited the forming of unions and any form of commerce with Ferengi females, among other things. However, there was apparently no prohibition on trade with non-Ferengi females. (DS9: "Bar Association", "Family Business", "Ferengi Love Songs")
The By-Laws were strictly enforced by the Liquidators, agents of the Ferengi Commerce Authority. Violation of these laws could result in severe fines, or even the revoking of a Ferengi's rights to conduct business with anyone associated with the Alliance.
Section 105, Sub-Paragraph 10 of the By-Laws, which pertains to the Ferengi Attainment Ceremony, stated that "adult Ferengi males must purchase an apprenticeship from a suitable role model." Upon citing this section of the By-Laws, Nog chose to be Benjamin Sisko's apprentice, and be the first Ferengi in Starfleet. (DS9: "Heart of Stone")
Sub-section 1027, Paragraph 3 of the By-Laws defined the obligation of a Ferengi regarding improper supervision of a family member. Quark was charged by Liquidator Brunt for violating this section of the By-Law, due to the criminal activities conducted by Ishka of earning profit. (DS9: "Family Business")