Management Glossary

  Search Results: quorum

A corporation's bylaws or the laws of the land may require that:

  • A certain percentage of the voting shares of a company be represented either in person or by proxy at a shareholders' meeting for a vote at the meeting to be considered valid and/or
  • A certain number of directors must be present at a board of directors meeting for the meeting to be considered legally constituted.

If those restrictions are in place, the numbers of shareholders or directors required to be present/represented is the "quorum".

Contributed by: Managerwise Staff

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