Exhibit 3.2





BISHOP EQUITIES,
INC.



BY-LAWS



ARTICLE I - MEETINGS OF STOCKHOLDERS



1. Stockholders' Meetings
shall he held in the office of the corporation, at Carson City, NV, or at such other place or places as the Directors shall from
time to time determine.



2. The annual meeting
of the stockholders of this corporation shall be held at 11 A.M., on the 1st day of June of each year beginning in 1992, at which
time there shall be elected by the stockholders of the corporation a Board of Directors for the ensuing year, and the stockholders
shall transact such other business as shall properly come before them.



3. A notice setting
out the time and place of such annual meeting shall be mailed postage prepaid to each of the stockholders of record, at his address
and as the same appears on the stock book of the Company, or if no such address appears, at his last known place of business, at
least ten (10) days prior to the annual meeting.



4. If a quorum is not
present at the annual meeting, the stockholders present, in person or by proxy, may adjourn to such future time as shall be agreed
upon by them, and notice of such adjournment shall be mailed, postage prepaid, to each stockholder of record at least ten (10)
days before such date to which the meeting was adjourned; but if a quorum is present, they may adjourn from day to day as they
see fit, and no notice of such adjournment need be given.



5. Special meetings
of the stockholders may be called at anytime by the President; by all of the directors provided there are no more than three, or
if more than three, by any three Directors; or by the holder of a majority share of the capital stock of the corporation. The Secretary
shall send a notice of such called meeting to each stockholder of record at least ten (10) days before such meeting, and such notice
shall state the time and place of the meeting, and the object thereof. No business shall be transacted at a special meeting except
as stated in the notice to the stockholders, unless by unanimous consent of all stockholders present, either in person or by proxy,
all such stock being represented at the meeting.



6. A majority of the
stock issued and outstanding, either in person or by proxy, shall constitute a quorum for the transaction of business at any meeting
of the stockholders.







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7. Each stockholder
shall be entitled to one vote for each share of stock in his own name on the books of the company, whether represented in person
or by proxy.



8. All proxies shall
be in writing and signed.



9. The following order
of business shall be observed at all meetings of the stockholders so far as is practicable:





| | a. | Call the roll;                                                            
| | -- | --------------------------------------------------------------------------
| | b. | Reading, correcting, and approving of the minutes of the previous meeting;
| | c. | Reports of officers;                                                      
| | d. | Reports or Committees;                                                    
| | e. | Election of Directors;                                                    
| | f. | Unfinished business; and                                                  
| | g. | New business.                                                             







ARTICLE II - STOCK



1. Certificates of
stock shall be in a form adopted by the Board of Directors and shall be signed by the President and Secretary of the Corporation.



2. All certificates
shall be consecutively numbered; the name of the person owning the shares represented thereby, with the number of such shares and
the date of issue shall be entered on the company's books.



3. All certificates
of stock transferred by endorsement thereon shall be surrendered by cancellation and new certificates issued to the purchaser or
assignee.





ARTICLE III - DIRECTORS



1. A Board of Directors,
consisting of at least one (1) person shall be chosen annually by the stockholders at their meeting to manage the affairs of the
company. The Directors' term of office shall be one (1) year, and Directors may be re-elected for successive annual terms.









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2. Vacancies on the
board of Directors by reason of death, resignation or other causes shall be filled by the remaining Director or Directors choosing
a Director or Directors to fill the unexpired term.



3. Regular meetings
of the Board of Directors shall be held at 1 P.M., on the 1st day of June of each year beginning in 1992 at the office of the company
at Carson City, NV, or at such other time or place as the Board of Directors shall by resolution appoint; special meetings may
be called by the President or any Director giving ten (10) days notice to each Director. Special meetings may also be called by
execution of the appropriate waiver of notice and call when executed by a majority of the Directors of the company. A majority
of the Directors shall constitute a quorum.



4. The Directors shall
have the general management and control of the business and affairs of the company and shall exercise all the powers that may be
exercised or performed by the corporation, under the statutes, the certificates of incorporation, and the By-Laws. Such management
will be by equal vote of each member of the Board of Directors with each Board member having an equal vote.



5. A resolution, in
writing, signed by all or a majority of the members of the Board of Directors, shall constitute action by the Board of Directors
to effect therein expressed, with the same force and effect as though such resolution had been passed at a duly convened meeting;
and it shall be the duty of the Secretary of record every such resolution in the Minute Book or the corporation under its proper
date.





ARTICLE IV - OFFICERS



1. The officers of
this company shall consist of: a President, one or more Vice Presidents, Secretary, Treasurer, Resident Agent, and such other officers
as shall, from time to time, be elected or appointed by the Board of Directors.



2. The PRESIDENT shall
preside at all meetings of the Directors and the Stockholders and shall have general charge and control over the affairs of the
corporation subject to the Board of Directors. He shall sign or countersign all certificates, contracts and other instruments of
the corporation as authorized by the Board of Directors and shall perform all such other duties as are incident to his office or
are required by him by the Board of Directors.



3. The VICE PRESIDENT
shall exercise the functions of the President during the absence or disability of the President and shall have such powers and
such duties as may be assigned to him from time to time by the Board of Directors.









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4. The SECRETARY shall
issue notices for all meetings as required by the By-Laws, shall keep a record of the minutes of the proceedings of the meetings
of the Stockholders and Directors, shall have charge of the corporate books, and shall make such reports and perform such other
duties as are incident to his office, or properly required of him by the Board of Directors. He shall be responsible that the corporation
complies with Section 78.105 of the Nevada Corporation Laws and supplies to the Nevada Resident Agent or Principal Office in Nevada,
any and all amendments to the Corporation's Articles of Incorporation and any and all amendments or changes to the By-Laws of the
Corporation. In compliance with Section 78.105, he will also supply to the Nevada Resident Agent or Principal Office in Nevada,
and maintain, a current statement setting out the name of the custodian of the stock ledger or duplicate stock ledger, and the
present and complete Post Office address, including street and number, if any, where such stock ledger or duplicate stock ledger
specified in the section is kept.



5. The TREASURER shall
have the custody of all monies and securities of the corporation and shall keep regular books of account. He shall disburse the
funds of the corporation in payment of the just demands against the corporation, or as may be ordered by the Board of Directors,
making proper vouchers for such disbursements and shall render to the Board of Directors, from time to time, as may be required
of him, an account of all his transactions as Treasurer and of the financial condition of the corporation. He shall perform all
duties incident to his office or which are properly required of him by the Board of Directors.



6. The RESIDENT AGENT
shall be in charge of the corporation's registered office in the State of Nevada, upon whom process against the corporation may
be served and shall perform all duties required of him by statute.



7. The salaries of
all officers shall be fixed by the Board of Directors and may be changed from time to time by a majority vote of the Board.



8. Each of such officers
shall serve for a term of one (1) year or until their successors are chosen and qualified. Officers may be re-elected or appointed
for successive annual terms.



9. The Board of Directors
may appoint such other officers and agents, as it shall deem necessary or expedient, who shall hold their offices for such terms
and shall exercise such powers and perform such duties as shall be determined from time to time by the Board of Directors.









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ARTICLE V - INDEMNIFICATION OF OFFICERS AND
DIRECTORS



1. The corporation
shall indemnify any and all of its Directors and Officers, and its former Directors and Officers, or any person who may have served
at the Corporations request as a Director or Officer of another corporation in which it owns shares of capital stock or of which
it is a creditor, against expenses actually and necessarily incurred by them in connection with the defense of any action, suit
or proceeding in which they, or any of them, are made parties, or a party, by reason of being or having been Director(s) or Officer(s)
of the corporation, or of such other corporation, except, in relation to matters as to which any such Director or Officer or former
Director or Officer or person shall be adjudged in such action, suit or proceeding to be liable for negligence or misconduct in
the performance of duty. Such indemnification shall not be deemed exclusive of any other rights to which those indemnified may
be entitled, under By-Law, agreement, vote of stockholders or otherwise.





ARTICLE VI - AMENDMENTS



1. Any of these By-Laws
may be amended by a majority vote of the stockholders at any annual meeting or at any special meeting called for that purpose.



2. The Board of Directors
may amend the By-Laws or adopt additional By-laws, but shall not alter or repeal any By-Laws adopted by the stockholders of the
company.
















CERTIFIED TO BE THE BY-LAWS OF:
BISHOP EQUITIES, INC.

| | BY: | /s/ Maureen Abato
| | --- | -----------------
| |     | Secretary        











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FIRST AMENDMENT

TO

BY-LAWS

OF

AETHLON MEDICAL, INC.





Effective as of July 24, 2012, Section 1
of Article III of the By-laws of Aethlon Medical, Inc. (the “Corporation”) hereby is amended and restated in its entirety
as follows:



“1.	The number of Directors constituting the
Board of Directors shall be no less than one (1) and shall be fixed by resolution of the Board of Directors from time to time.
The Directors’ term of office shall be one (1) year, and Directors may be re-elected for successive annual terms.”



I hereby certify that (a) I am the duly
elected and acting Secretary of the Corporation, and (b) the foregoing amendment was duly adopted by resolution of the Board of
Directors of the Corporation on July 24, 2012.



IN WITNESS WHEREOF, I have hereunto subscribed my name as of
July 24, 2012.







/s/ James A. Joyce

James A. Joyce

Secretary









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SECOND AMENDMENT

TO

BY-LAWS

OF

AETHLONE MEDICAL, INC.





Effective as of June 10, 2015, Section 6
of Article I of the By-laws of Aethlon Medical, Inc. (the “Corporation”) hereby is amended and restated in its entirety
as follows:



“     6.    Stockholders
representing a majority of the stock issued and outstanding, either in person or by proxy, shall constitute a quorum for the transaction
of business at any meeting of stockholders; provided, however, that at any time during which shares of the capital
stock of the company are listed for trading on the NASDAQ Stock Market, stockholders representing not less than thirty-three and
one-third percent (33 1/3%) of the common voting stock issued and outstanding, either in person or by proxy, shall constitute a
quorum for the transaction of business at any meeting of the holders of common stock.”



I hereby certify that (a) I am the duly
elected and acting Secretary of the Corporation, and (b) the foregoing amendment was duly adopted by resolution of the Board of
Directors of the Corporation on June 10, 2015.



IN WITNESS WHEREOF, I have hereunto subscribed my name as of
June 15, 2015.





| | /s/ James A. Joyce | 
| | ------------------ | 
| | James A. Joyce     | 
| | Secretary          | 





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