Quorum
|
Quorum
|
|
|
Red Bank Oaks Quorum
Reference Bylaws, Article II, Meetings of Members … Section 2.06. Quorum. For matters requiring a full vote of the landowners, a majority representation of all parcels within the Association, whether those voting by mail, attending in person, or by proxy, shall constitute a quorum for the transaction of business, and, except as otherwise provided by law, by the Articles of Incorporation, or by these bylaws, no business shall be transacted in the absence of this quorum. For matters requiring a vote of the Board of Directors only, a majority representation of the current board members, whether those voting by mail, attending in person, or by proxy, shall constitute a quorum for the transaction of business, and, except as otherwise provided by law, by the Articles of Incorporation, or by these bylaws, no business shall be transacted in the absence of this quorum. Legal Definition: The minimum number of directors who must be present at a directors meeting, or shares of stock that must be represented by stockholders at a stockholders meeting in order to conduct business or take action. Used substantively, quorum signifies the number of persons belonging to a legislative assembly, a corporation, society, or other body, required to transact business; there is a difference between an act done by a definite number of persons, and one performed by an indefinite number: in the first case a majority is required to constitute a quorum, unless the law expressly directs that another number may make one; in the latter case any number who may be present may act, the majority of those present having, as in other cases, the right to act. Sometimes the law requires a greater number than a bare majority to form a quorum, in such case no quorum is present until such a number convene. When an authority is confided to several persons for a private purpose, all must join in the act, unless otherwise authorized.
|
|
Copyright © 2008
Red Bank Oaks Property Owners' Association
|
