<PAGE>
                                                                     Exhibit 3.2

                                                As Amended through May 23, 1997

                                    BY-LAWS
                                       OF
                          DATAWARE TECHNOLOGIES, INC.


                                   ARTICLE I

                                  STOCKHOLDERS

     SECTION 1.  Place of Meetings.  All meetings of stockholders shall be held
                 -----------------                                             
at the principal office of the corporation or at such other place as may be
named in the notice.

     SECTION 2.  Annual Meeting.  The annual meeting of stockholders for the
                 --------------                                             
election of directors and the transaction of such other business as may properly
come before the meeting shall be held on such date and at such hour and place as
the directors or an officer designated by the directors may determine.  If the
annual meeting is not held on the date designated therefor, the directors shall
cause the meeting to be held as soon thereafter as convenient.

     SECTION 3.  Special Meetings.  Special meetings of the stockholders may be
                 ----------------                                              
called at any time by the President, the Chairman of the Board, if any, or the
Board of Directors.

     SECTION 4.  Notice of Meetings.  Except where some other notice is required
                 ------------------                                             
by law, written notice of each meeting of stockholders, stating the place, date
and hour thereof and the purposes for which the meeting is called, shall be
given by the Secretary under the direction of the Board of Directors or the
President, not less than ten nor more than sixty days before the date fixed for
such meeting, to each stockholder of record entitled to vote at such meeting.
Notice shall be given personally to each stockholder or left at his or her
residence or usual place of business or mailed postage prepaid and addressed to
the stockholder at his or her address as it appears upon the records of the
corporation.  In case of the death, absence, incapacity or refusal of the
Secretary, such notice may be given by a person designated either by the
Secretary or by the person or persons calling the meeting or by the Board of
Directors. A waiver of such notice in writing, signed by the person or persons
entitled to said notice, whether before or after the time stated therein, shall
be deemed equivalent to such notice. Attendance of a person at a meeting of
stockholders shall constitute a waiver of notice of such meeting, except when
the stockholder attends a meeting for the express purpose of objecting, at the
beginning of the meeting, to the transaction of any business because the meeting
is not lawfully called or convened.  Neither the business to be transacted at,
nor the purpose of, any regular or special meeting of the stockholders need be
specified in any written waiver of notice. Except as required by statute, notice
of any adjourned meeting of the stockholders shall not be required.
<PAGE>
 
     SECTION 5.  Record Date.  The Board of Directors may fix in advance a
                 -----------                                              
record date for the determination of the stockholders entitled to notice of or
to vote at any meeting of stockholders, or entitled to receive payment of any
dividend or other distribution or allotment of any rights, or entitled to
exercise any rights in respect of any change, conversion or exchange of stock,
or for the purpose of any other lawful action.  Such record date shall not be
more than 60 nor less than 10 days before the date of such meeting, nor more
than 60 days before any other action to which such record date relates.  If no
record date is fixed, the record date for determining stockholders entitled to
notice of or to vote at a meeting of stockholders shall be at the close of
business on the day before the day on which notice is given, or, if notice is
waived, at the close of business on the day before the day on which the meeting
is held, and the record date for determining stockholders for any other purpose
shall be at the close of business on the day on which the Board of Directors
adopts the resolution relating to such purpose.  A determination of stockholders
of record entitled to notice of or to vote at a meeting of stockholders shall
apply to any adjournment of the meeting; provided, however, that the Board of
Directors may fix a new record date for the adjourned meeting.

     SECTION 6.  Nomination of Directors.  Only persons who are nominated in
                 -----------------------                                    
accordance with the following procedures shall be eligible for election as
directors at any annual or special meeting of stockholders.  Nominations of
persons for election as directors may be made only by or at the direction of the
Board of Directors, or by any stockholder entitled to vote for the election of
directors at the meeting in compliance with the notice procedures set forth in
this Section 6.  Such nominations, other than those made by or at the direction
of the Board, shall be made pursuant to timely notice in writing to the Chairman
of the Board, if any, the President or the Secretary.  To be timely, a
stockholder's notice shall be delivered to or mailed and received at the
principal executive offices of the corporation not less than 45 days nor more
than 60 days before the meeting; provided, however, that if less than 60 days'
notice or prior public disclosure of the date of the meeting is given or made to
stockholders, notice by the stockholder to be timely must be so received not
later than the close of business on the 15th day following the day on which such
notice of the date of the meeting was mailed or such public disclosure was made.
Such stockholder's notice shall set forth (a) as to each person whom the
stockholder proposes to nominate for election or re-election as a director, (i)
the name, age, business address and residence address of the person, (ii) the
principal occupation or employment of the person, (iii) the class and number of
shares of capital stock of the corporation that are beneficially owned by the
person and (iv) any other information relating to the person that is required to
be disclosed in solicitations for proxies for election of directors pursuant to
Regulation 14A under the Securities Exchange Act of 1934, as amended; and (b) as
to the stockholder giving the notice, (i) the name and record address of such
stockholder and (ii) the class and number of shares of capital stock of the
corporation that are beneficially owned by such stockholder.

     The chairman of the meeting shall, if the facts warrant, determine and
declare to the meeting that a nomination was not made in accordance with the
foregoing procedure, and if he should so determine, he shall so declare to the
meeting and the defective nomination shall be disregarded.
<PAGE>
 
     SECTION 7.  Advance Notice of Business at Annual Meetings.  At any annual
                 ---------------------------------------------                
meeting of the stockholders, only such business shall be conducted as shall have
been properly brought before the meeting.  To be brought properly before an
annual meeting, business must be either (a) specified in the notice of meeting
(or any supplement thereto) given by or at the direction of the President or the
Board of Directors, (b) otherwise properly brought before the meeting by or at
the direction of the Board, or (c) properly brought before the meeting by a
stockholder.  In addition to any other applicable requirements, for business to
be brought properly before an annual meeting by a stockholder, the stockholder
must have given timely notice thereof in writing to the Chairman of the Board,
if any, the President or the Secretary. To be timely, a stockholder's notice
must be delivered to or mailed and received at the principal executive offices
of the corporation not less than 45 days nor more than 60 days before the
meeting; provided, however, that if less than 60 days' notice or prior public
disclosure of the date of the meeting is given or made to stockholders, notice
by the stockholder to be timely must be so received not later than the close of
business on the 15th day following the day on which such notice of the date of
the annual meeting was mailed or such public disclosure was made. A
stockholder's notice shall set forth as to each matter the stockholder proposes
to bring before the annual meeting (i) a brief description of the business
desired to be brought before the annual meeting and the reasons for conducting
such business at the annual meeting, (ii) the name and record address of the
stockholder proposing such business, (iii) the class and number of shares of the
corporation that are beneficially owned by the stockholder and (iv) any material
interest of the stockholder in such business.

     Notwithstanding anything in these by-laws to the contrary, no business
shall be conducted at the annual meeting except in accordance with the
procedures set forth in this Section 7, provided, however, that nothing in this
Section 7 shall be deemed to preclude discussion by any stockholder of any
business properly brought before the annual meeting in accordance with said
procedure.

     The chairman of an annual meeting shall, if the facts warrant, determine
and declare to the meeting that business was not properly brought before the
meeting in accordance with the foregoing procedure, and if he should so
determine, he shall so declare to the meeting and any such business not properly
brought before the meeting shall not be transacted.

     SECTION 8.  Voting List.  The officer who has charge of the stock ledger of
                 -----------                                                    
the corporation shall make or have made, at least ten days before every meeting
of stockholders, a complete list of the stockholders, arranged in alphabetical
order and showing the address of each stockholder and the number of shares
registered in the name of each stockholder.  Such list shall be open to the
examination of any stockholder for any purpose germane to the meeting, during
ordinary business hours, for a period of at least ten days before the meeting,
either at a place within the city where the meeting is to be held, which place
shall be specified in the notice of the meeting, or if not so specified, at the
place where the meeting is to be held.  The list shall also be produced and kept
at the time and place of the meeting during the whole time thereof, and may be
inspected by any stockholder who is present.  The stock ledger shall be the only
evidence as to who are the stockholders entitled to examine the stock ledger,
the list required by this section or the books of the corporation, or to vote at
any meeting of stockholders.
<PAGE>
 
     SECTION 9.  Quorum of Stockholders.  At any meeting of the stockholders,
                 ----------------------                                      
the holders of a majority in interest of all stock issued and outstanding and
entitled to vote upon a question to be considered at the meeting, present in
person or represented by proxy, shall constitute a quorum for the consideration
of such question, but in the absence of a quorum a smaller group may adjourn any
meeting from time to time.  When a quorum is present at any meeting, a majority
of the stock represented thereat and entitled to vote shall, except where a
larger vote is required by law, by the certificate of incorporation or by these
by-laws, decide any question brought before such meeting.  Any election by
stockholders shall be determined by a plurality of the vote cast by the
stockholders entitled to vote at the election.

     SECTION 10.  Proxies and Voting.  Unless otherwise provided in the
                  ------------------                                   
Certificate of Incorporation, each stockholder shall at every meeting of the
stockholders be entitled to one vote in person or by proxy for each share of the
capital stock held of record by such stockholder, but no proxy shall be voted or
acted upon after three years from its date, unless said proxy provides for a
longer period.  Persons holding stock in a fiduciary capacity shall be entitled
to vote the shares so held, and persons whose stock is pledged shall be entitled
to vote unless in the transfer by the pledgor on the books of the corporation
the pledgee shall have been expressly empowered to vote thereon, in which case
only the pledgee or the pledgee's proxy may represent said stock and vote
thereon.  Shares of the capital stock of the corporation belonging to the
corporation or to another corporation, a majority of whose shares entitled to
vote in the election of directors is owned by the corporation, shall neither be
entitled to vote nor be counted for quorum purposes.

     SECTION 11.  Conduct of Meeting.  Meetings of the stockholders shall be
                  ------------------                                        
presided over by one of the following officers in the order of seniority and if
present and acting: the Chairman of the Board, if any, the Vice-Chairman of the
Board, if any, the President, a Vice-President, or, if none of the foregoing is
in office and present and acting, a chairman to be chosen by the stockholders.
The Secretary of the corporation, if present, or an Assistant Secretary, shall
act as secretary of every meeting, but if neither the Secretary nor an Assistant
Secretary is present the chairman of the meeting shall appoint a secretary of
the meeting.


                                   ARTICLE II

                                   DIRECTORS

     SECTION 1.  General Powers.  The business and affairs of the corporation
                 --------------                                              
shall be managed by or under the direction of a Board of Directors, who may
exercise all of the powers of the corporation that are not by law required to be
exercised by the stockholders.  In the event of a vacancy in the Board of
Directors, the remaining directors, except as otherwise provided by law, may
exercise the powers of the full Board until the vacancy is filled.
<PAGE>
 
     SECTION 2.  Number; Election; Tenure and Qualification.  Subject to any
                 ------------------------------------------                 
restrictions contained in the Certificate of Incorporation, the number of
directors that shall constitute the whole Board shall be fixed by resolution of
the Board of Directors but in no event shall be less than one. The directors
shall be elected in the manner provided in the Certificate of Incorporation, by
such stockholders as have the right to vote thereon.  The number of directors
may be increased or decreased by action of the Board of Directors.  Directors
need not be stockholders of the corporation.

     SECTION 3.  Enlargement of the Board.  Subject to any restrictions
                 ------------------------                              
contained in the Certificate of Incorporation, the number of the Board of
Directors may be increased at any time, such increase to be effective
immediately unless otherwise specified in the resolution, by vote of a majority
of the directors then in office.

     SECTION 4.  Vacancies.  Unless and until filled by the stockholders and
                 ---------                                                  
except as otherwise determined by the Board of Directors in establishing a
series of Preferred Stock as to directors elected by the holders of such series,
any vacancy in the Board of Directors, however occurring, including a vacancy
resulting from an enlargement of the Board and an unfilled vacancy resulting
from the removal of any director, may be filled by vote of a majority of the
directors then in office although less than a quorum, or by the sole remaining
director. Each director so chosen to fill a vacancy shall serve for a term
determined in the manner provided in the Certificate of Incorporation.  When one
or more directors shall resign from the Board, effective at a future date, a
majority of the directors then in office, including those who have so resigned,
shall have the power to fill such vacancy or vacancies, the vote thereon to take
effect when such resignation or resignations shall become effective.  If at any
time there are no directors in office, then an election of directors may be held
in accordance with the General Corporation Law of the State of Delaware.

     SECTION 5.  Resignation.  Any director may resign at any time upon written
                 -----------                                                   
notice to the corporation.  Such resignation shall take effect at the time
specified therein, or if no time is specified, at the time of its receipt by the
President or Secretary.

     SECTION 6.  Removal.  Except as may otherwise be provided by the General
                 -------                                                     
Corporation Law, any director or the entire Board of Directors may be removed,
with or without cause, at an annual meeting or at a special meeting called for
that purpose, by the holders of a majority of the shares then entitled to vote
in an election of directors. The vacancy or vacancies thus created may be filled
by the stockholders at the meeting held for the purpose of removal or, if not so
filled, by the directors in the manner provided in Section 4 of this Article II.

     SECTION 7.  Committees.  The Board of Directors may designate one or more
                 ----------                                                   
committees, each committee to consist of one or more directors of the
corporation.  The Board of Directors may designate one or more directors as
alternate members of any committee to replace any absent or disqualified member
at any meeting of the committee.  In the absence or disqualification of any
member of any such committee, the member or members thereof present at any
meeting and not disqualified from voting, whether or not such member or 
<PAGE>
 
members constitute a quorum, may unanimously appoint another member of the Board
of Directors to act at the meeting in the place of such absent or disqualified
member. The Board of Directors shall have the power to change the members of any
such committee at any time, to fill vacancies therein and to discharge any such
committee, either with or without cause, at any time.

     Any such committee, unless otherwise provided in the resolution of the
Board of Directors, or in these by-laws, shall have and may exercise all the
powers and authority of the Board of Directors in the management of the business
and affairs of the corporation, and may authorize the seal of the corporation to
be affixed to all papers that may require it; but no such committee shall have
the power or authority denied it by Section 141 of the General Corporation Law
of the State of Delaware.

     A majority of all the members of any such committee may fix its rules of
procedure, determine its action and fix the time and place, whether within or
without the State of Delaware, of its meetings and specify what notice thereof,
if any, shall be given, unless the Board of Directors shall otherwise by
resolution provide.  Each committee shall keep regular minutes of its meetings
and make such reports as the Board of Directors may from time to time request.

     SECTION 8.  Meetings of the Board of Directors. Regular meetings of the
                 ----------------------------------                         
Board of Directors may be held without call or formal notice at such places
either within or without the State of Delaware and at such times as the Board
may by vote from time to time determine. A regular meeting of the Board of
Directors may be held without call or formal notice immediately after and at the
same place as the annual meeting of the stockholders, or any special meeting of
the stockholders at which a Board of Directors is elected.

     Special meetings of the Board of Directors may be held at any place either
within or without the State of Delaware at any time when called by the Chairman
of the Board of Directors, the President, Treasurer, Secretary, or two or more
directors.  Reasonable notice of the time and place of a special meeting shall
be given to each director unless such notice is waived by attendance or by
written waiver in the manner provided in these by-laws for waiver of notice by
stockholders.  Notice may be given by, or by a person designated by, the
Secretary, the person or persons calling the meeting, or the Board of Directors.
No notice of any adjourned meeting of the Board of Directors shall be required.
In any case it shall be deemed sufficient notice to a director to send notice by
mail at least seventy-two hours, or by telegram or fax at least forty-eight
hours, before the meeting, addressed to such director at his or her usual or
last known business or home address.

     Directors or members of any committee may participate in a meeting of the
Board of Directors or of such committee by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other, and participation by such means shall
constitute presence in person at such meeting.

     SECTION 9.  Quorum and Voting.  A majority of the total number of directors
                 -----------------                                              
<PAGE>
 
shall constitute a quorum, except that when a vacancy or vacancies exist in the
Board, a majority of the directors then in office (but not less than one-third
of the total number of the directors) shall constitute a quorum.  A majority of
the directors present, whether or not a quorum is present, may adjourn any
meeting from time to time.  The vote of a majority of the directors present at
any meeting at which a quorum is present shall be the act of the Board of
Directors, except where a different vote is required or permitted by law, by the
Certificate of Incorporation or by these by-laws.

     SECTION 10.  Compensation.  The Board of Directors may fix fees for their
                  ------------                                                
services and for their membership on committees, and expenses of attendance may
be allowed for attendance at each meeting.  Nothing herein contained shall be
construed to preclude any director from serving the corporation in any other
capacity, as an officer, agent or otherwise, and receiving compensation
therefor.

     SECTION 11.  Action Without Meeting.  Any action required or permitted to
                  ----------------------                                      
be taken at any meeting of the Board of Directors or of any committee thereof
may be taken without a meeting and without notice if a written consent thereto
is signed by all members of the Board of Directors or of such committee, as the
case may be, and such written consent is filed with the minutes of proceedings
of the Board of Directors or of such committee.


                                  ARTICLE III

                                    OFFICERS

     SECTION 1.  Titles.  The officers of the corporation shall consist of a
                 ------                                                     
President, a Secretary, a Treasurer and such other officers with such other
titles as the Board of Directors shall determine, who may include without
limitation a Chairman of the Board, a Vice-Chairman of the Board and one or more
Vice-Presidents, Assistant Treasurers or Assistant Secretaries.

     SECTION 2.  Election and Term of Office.  The officers of the corporation
                 ---------------------------                                  
shall be elected annually by the Board of Directors at its first meeting
following the annual meeting of the stockholders. Each officer shall hold office
until his or her successor is elected and qualified, unless a different term is
specified in the vote electing such officer, or until his or her earlier death,
resignation or removal.

     SECTION 3.  Qualification.  Unless otherwise provided by resolution of the
                 -------------                                                 
Board of Directors, no officer, other than the Chairman or Vice-Chairman of the
Board, need be a director.  No officer need be a stockholder.  Any number of
offices may be held by the same person, as the directors shall determine.
 
     SECTION 4.  Removal.  Any officer may be removed, with or without cause, at
                 -------                                                        
any time, by resolution adopted by the Board of Directors.
<PAGE>
 
     SECTION 5.  Resignation.  Any officer may resign by delivering a written
                 -----------                                                 
resignation to the corporation at its principal office or to the Chairman of the
Board, if any, the President, or the Secretary.  Such resignation shall be
effective upon receipt or at such later time as may be specified therein.

     SECTION 6.  Vacancies.  The Board of Directors may at any time fill any
                 ---------                                                  
vacancy occurring in any office for the unexpired portion of the term and may
leave unfilled for such period as it may determine any office other than those
of President, Treasurer and Secretary.

     SECTION 7.  Powers and Duties.  The officers of the corporation shall have
                 -----------------                                             
such powers and perform such duties as are specified herein and as may be
conferred upon or assigned to them by the Board of Directors and shall have such
additional powers and duties as are incident to their office except to the
extent that resolutions of the Board of Directors are inconsistent therewith.

     SECTION 8.  President and Vice-Presidents.  Except to the extent that such
                 -----------------------------                                 
duties are assigned by the Board of Directors to the Chairman of the Board, or
in the absence of the Chairman or in the event of his or her inability or
refusal to act, the President shall be the chief executive officer of the
corporation and shall have general and active management of the business of the
corporation and general supervision of its officers, agents and employees, and
shall see that all orders and resolutions of the Board of Directors are carried
into effect.  The President shall preside at each meeting of the stockholders
and the Board of Directors unless a Chairman or Vice-Chairman of the Board is
elected by the Board and is present at such meeting.

     The Board of Directors may assign to any Vice-President the title of
Executive Vice-President, Senior Vice-President or any other title selected by
the Board of Directors.  In the absence of the President or in the event of his
or her inability or refusal to act, the duties of the President shall be
performed by the Executive Vice-President, if any, Senior Vice President, if
any, or Vice President, if any, in that order (and, in the event there be more
than one person in any such office, in the order of their election), and when so
acting, such officer shall have all the powers of and be subject to all the
restrictions upon the President.

     SECTION 9.  Secretary and Assistant Secretaries.  The Secretary shall
                 -----------------------------------                      
attend all meetings of the Board of Directors and of the stockholders and record
all the proceedings of such meetings in a book to be kept for that purpose,
shall give, or cause to be given, notice of all meetings of the stockholders and
special meetings of the Board of Directors, shall maintain a stock ledger and
prepare lists of stockholders and their addresses as required and shall have
custody of the corporate seal, which the Secretary or any Assistant Secretary
shall have authority to affix to any instrument requiring it and attest by any
of their signatures.  The Board of Directors may give general authority to any
other officer to affix and attest the seal of the corporation.

     Any Assistant Secretary may, in the absence of the Secretary or in the
<PAGE>
 
event of the Secretary's inability or refusal to act, perform the duties and
exercise the powers of the Secretary.

     SECTION 10.  Treasurer and Assistant Treasurers.  The Treasurer shall have
                  ----------------------------------                           
the custody of the corporate funds and securities, shall keep full and accurate
accounts of receipts and disbursements in books belonging to the corporation and
shall deposit all moneys and other valuable effects in the name and to the
credit of the corporation in such depositories as may be designated by or
pursuant to resolution of the Board of Directors.  The Treasurer shall disburse
the funds of the corporation as may be ordered by the Board of Directors, the
Chairman of the Board, if any, or the President, taking proper vouchers for such
disbursements, and shall render to the Chairman of the Board, the President, and
the Board of Directors, at its regular meetings or whenever they may require it,
an account of all transactions and of the financial condition of the
corporation.

  Any Assistant Treasurer may, in the absence of the Treasurer or in the event
of his or her inability or refusal to act, perform the duties and exercise the
powers of the Treasurer.

     SECTION 11.  Bonded Officers.  The Board of Directors may require any
                  ---------------                                         
officer to give the corporation a bond in such sum and with such surety or
sureties as shall be satisfactory to the Board of Directors upon such terms and
conditions as the Board of Directors may specify, including without limitation a
bond for the faithful performance of the duties of such officer and for the
restoration to the corporation of all property in his or her possession or
control belonging to the corporation.

     SECTION 12.  Salaries.  Officers of the corporation shall be entitled to
                  --------                                                   
such salaries, compensation or reimbursement as shall be fixed or allowed from
time to time by the Board of Directors or any committee thereof appointed for
the purpose.


                                   ARTICLE IV

                                     STOCK

     SECTION 1.  Certificates of Stock.  One or more stock certificates, signed
                 ---------------------                                         
by the Chairman or Vice-Chairman of the Board of Directors or by the President
or a Vice-President and by the Treasurer or an Assistant Treasurer or the
Secretary or an Assistant Secretary, shall be issued to each stockholder
certifying the number of shares owned by the stockholder in the corporation.
Any or all signatures on any such certificate may be facsimiles.  In case any
officer, transfer agent or registrar who shall have signed or whose facsimile
signature shall have been placed upon a certificate shall have ceased to be such
officer, transfer agent or registrar before such certificate is issued, it may
be issued by the corporation with the same effect as if he or she were such
officer, transfer agent or registrar at the date of issue.

     Each certificate for shares of stock that are subject to any restriction on
transfer pursuant to the Certificate of Incorporation, the by-laws, applicable
securities laws, or any 
<PAGE>
 
agreement among any number of stockholders or among such holders and the
corporation shall have conspicuously noted on the face or back of the
certificate either the full text of the restriction or a statement of the
existence of such restriction.

     SECTION 2.  Transfers of Shares of Stock.  Subject to the restrictions, if
                 ----------------------------                                  
any, stated or noted on the stock certificates, shares of stock may be
transferred on the books of the corporation by the surrender to the corporation
or its transfer agent of the certificate representing such shares properly
endorsed or accompanied by a written assignment or power of attorney properly
executed, and with such proof of authority or the authenticity of signature as
the corporation or its transfer agent may reasonably require.  The corporation
shall be entitled to treat the record holder of stock as shown on its books as
the owner of such stock for all purposes, including the payment of dividends and
the right to vote with respect to that stock, regardless of any transfer, pledge
or other disposition of that stock, until the shares have been transferred on
the books of the corporation in accordance with the requirements of these by-
laws.

     SECTION 3.  Lost Certificates.  A new stock certificate may be issued in
                 -----------------                                           
the place of any certificate theretofore issued by the corporation and alleged
to have been lost, stolen, destroyed or mutilated, upon such terms in conformity
with law as the Board of Directors shall prescribe.  The directors may, in their
discretion, require the owner of the lost, stolen, destroyed or mutilated
certificate, or the owner's legal representatives, to give the corporation a
bond, in such sum as they may direct, to indemnify the corporation against any
claim that may be made against it on account of the alleged loss, theft,
destruction or mutilation of any such certificate, or the issuance of any such
new certificate.

     SECTION 4.  Fractional Share Interests.  The corporation may, but shall not
                 --------------------------                                     
be required to, issue fractions of a share.  If the corporation does not issue
fractions of a share, it shall (l) arrange for the disposition of fractional
interests by those entitled thereto, (2) pay in cash the fair value of fractions
of a share as of the time when those entitled to receive such fractions are
determined, or (3) issue scrip or warrants in registered or bearer form, which
shall entitle the holder to receive a certificate for a full share upon the
surrender of such scrip or warrants aggregating a full share.  A certificate for
a fractional share shall, but scrip or warrants shall not unless otherwise
provided therein, entitle the holder to exercise voting rights, to receive
dividends thereon, and to participate in any of the assets of the corporation in
the event of liquidation.  The Board of Directors may cause scrip or warrants to
be issued subject to the conditions that they shall become void if not exchanged
for certificates representing full shares before a specified date, or subject to
the conditions that the shares for which scrip or warrants are exchangeable may
be sold by the corporation and the proceeds thereof distributed to the holders
of scrip or warrants, or subject to any other conditions that the Board of
Directors may impose.

     SECTION 5.  Dividends.  Subject to the provisions of the Certificate of
                 ---------                                                  
Incorporation, the Board of Directors may, out of funds legally available
therefor, at any regular or special meeting, declare dividends upon the Common
Stock of the corporation as and when they deem expedient.
<PAGE>
 
                                   ARTICLE V

                                   INSURANCE

     SECTION 1.  Insurance.  The corporation shall have power to purchase and
                 ---------                                                   
maintain insurance on behalf of any person who is or was a director, officer,
employee or agent of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise against any liability
asserted against such person and incurred by such person in any such capacity or
arising out of such person's status as such, whether or not the corporation
would have the power to indemnify such person against such liability under the
provisions of the General Corporation Law of the State of Delaware.


                                   ARTICLE VI

                               GENERAL PROVISIONS

     SECTION 1.  Fiscal Year.  Except as otherwise designated from time to time
                 -----------                                                   
by the Board of Directors, the fiscal year of the corporation shall begin on the
first day of January and end on the last day of December.

     SECTION 2.  Corporate Seal.  The corporate seal shall be in such form as
                 --------------                                              
shall be approved by the Board of Directors.  The Secretary shall be the
custodian of the seal, and a duplicate seal may be kept and used by each
Assistant Secretary and by any other officer the Board of Directors may
authorize.

     SECTION 3.  Certificate of Incorporation.  All references in these by-laws
                 ----------------------------                                  
to the Certificate of Incorporation shall be deemed to refer to the Certificate
of Incorporation of the corporation, as in effect from time to time.

     SECTION 4.  Execution of Instruments.  The Chairman and Vice-Chairman of
                 ------------------------                                    
the Board of Directors, if any, the President, and the Treasurer shall have
power to execute and deliver on behalf and in the name of the corporation any
instrument requiring the signature of an officer of the corporation, including
deeds, contracts, mortgages, bonds, notes, debentures, checks, drafts and other
orders for the payment of money. In addition, the Board of Directors, the
Chairman and Vice Chairman of the Board of Directors, if any, the President, and
the Treasurer may expressly delegate such powers to any other officer or agent
of the corporation.

     SECTION 5.  Voting of Securities.  The Chairman and Vice-Chairman of the
                 --------------------                                        
Board of Directors, if any, the President, the Treasurer, and each other person
authorized by the directors, each acting singly, may waive notice of, and act
as, or appoint any person or 
<PAGE>
 
persons to act as, proxy or attorney-in-fact for this corporation (with or
without power of substitution) at any meeting of stockholders or shareholders of
any other corporation or organization the securities of which may be held by
this corporation. In addition, the Board of Directors, the Chairman and Vice
Chairman of the Board of Directors, if any, the President, and the Treasurer may
expressly delegate such powers to any other officer or agent of the corporation.

     SECTION 6.  Evidence of Authority.  A certificate by the Secretary, an
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Assistant Secretary or a temporary secretary as to any action taken by the
stockholders, directors, a committee or any officer or representative of the
corporation shall, as to all persons who rely on the certificate in good faith,
be conclusive evidence of that action.

     SECTION 7.  Transactions with Interested Parties.  No contract or
                 ------------------------------------                 
transaction between the corporation and one or more of the directors or
officers, or between the corporation and any other corporation, partnership,
association or other organization in which one or more of the directors or
officers are directors or officers or have a financial interest, shall be void
or voidable solely for that reason or solely because the director or officer is
present at or participates in the meeting of the Board of Directors or a
committee of the Board of Directors that authorizes the contract or transaction
or solely because the vote of any such director is counted for such purpose, if:

     (1)  The material facts as to the relationship or interest and as to the
contract or transaction are disclosed or are known to the Board of Directors or
such committee, and the Board or committee in good faith authorizes the contract
or transaction by the affirmative votes of a majority of the disinterested
directors, even though the disinterested directors be less than a quorum; or

     (2)  The material facts as to the relationship or interest and as to the
contract or transaction are disclosed or are known to the stockholders entitled
to vote thereon, and the contract or transaction is specifically approved in
good faith by vote of the stockholders; or

     (3) The contract or transaction is fair to the corporation as of the time
it is authorized, approved or ratified by the Board of Directors, a committee of
the Board of Directors or the stockholders.

     Common or interested directors may be counted in determining the presence
of a quorum at a meeting of the Board of Directors or of a committee that
authorizes the contract or transaction.

     SECTION 8.  Books and Records.  The books and records of the corporation
                 -----------------                                           
shall be kept at such places within or without the State of Delaware as the
Board of Directors may from time to time determine.
<PAGE>
 
                                  ARTICLE VII

                                   AMENDMENTS

     SECTION 1.  By the Board of Directors.  These by-laws may be altered,
                 -------------------------                                
amended or repealed or new by-laws may be adopted by the affirmative vote of a
majority of the directors present at any regular or special meeting of the Board
of Directors at which a quorum is present.

     SECTION 2.  By the Stockholders.  These by-laws may be altered, amended or
                 -------------------                                           
repealed or new by-laws may be adopted by the affirmative vote of the holders of
a majority of the shares of the capital stock of the corporation issued and
outstanding and entitled to vote at any regular meeting of stockholders, or at
any special meeting of stockholders, provided notice of such alteration,
amendment, repeal or adoption of new by-laws shall have been stated in the
notice of such special meeting.