What is quorum?

Fixed minimum number of eligible members or stockholders (shareholders) who must be present ...

	Wednesday, February 18, 2015 quorum   Term of the Day quorum 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. Learn more about this term Usage Example Sure enough, within a few minutes, the chamber failed to muster quorum for a major vote on a forestry bill.   Featured Article Developing an Action Plan Action plans, or road maps to accomplishing a set goal, are widely varied. They can be used for personal goals as well as career-related ones. While the content ... Read this article   Voice Your Opinion If someone gave you $100,000 but said you had to spend it all today, what would you buy?   Take us with you! Download the BusinessDictionary app today.
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