Quorum

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Quorum

The minimum number of people who must be present or must provide a proxy to vote at a meeting in order to make a valid decision.

Quorum

The minimum number of shareholders or board members that must be present at a meeting in order to make binding decisions for a company. Especially in the case of shareholders, the quorum may not be a number of persons, but a percentage of equity in the company represented by the owners who are present. The quorum is defined in the corporate charter. See also: Annual shareholders meeting.
References in periodicals archive ?
Coun Sennett, who said he did not have a prejudicial interest to declare in respect of ROOM, said: "As things stand at present the parish council cannot discuss anything to do with ROOM or opencast mining because we would not be quorate with just two members.
The second meeting shall be considered quorate and validly held by any number of Shareholders present.
If any of the shareholders is missing-and the presence of the ROA's Go Racing critics is not guaranteed-the meeting would not be quorate and no decision could be taken.
After a couple of pints and a bag of nuts, it was formally decided that a second meeting would be held, probably at the same location, on Sunday night (weather permitting) and that if one person attended, this would not only render the meeting quorate but empower those members of the committee present to do more or less anything they liked, including the ingestion of amounts of alcohol to be decided after private consultations and the sale of the house, car and furniture (and, of course, the kids for medical experiments) to finance punting at Royal Ascot during the coming week.
The Second Meetings of the holders of the 2008 DEM Notes, 2009 Notes and 2012 Notes were not quorate.
Please note that if the meeting is not quorate or if, for any other
The Class Meeting of Capital Shareholders was not quorate and has been