quorum
Definition
Fixed minimum number of eligible members or stockholders (shareholders) who must be present (physically or by proxy) at a meeting before any official business may be transacted or a decision taken therein becomes legally binding. Usually the articles of association or bylaws of a firm specify this number, otherwise the number prescribed in corporate legislation (such as company law) is followed.
quorum is in the Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.
quorum appears in the definitions of the following terms: board meeting and meeting
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