This is the 1285th most frequent Korean word.
규정하고
"Regulating" or "stipulating."
Here, '규정하고' is used to describe how the school rules formally determine and define acceptable student behavior.
학교 규칙은 학생들의 행동을 규정하고 있습니다.
The school rules regulate the students' behavior.
In this sentence, '규정하고' is used to state how laws establish and define the proper processes for corporate operation.
법률이 기업의 운영 방식을 규정하고 있다.
The law prescribes the way corporations are managed.
The word '규정하고' in this context is used to express how the contract explicitly specifies and sets out the obligations of the involved parties.