Quorum

Quorum

The minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter.

Notes:

This clause within a company's charter ensures that there is a sufficient representation of stockholders present at meetings before any changes can be made by the board.

See also: Annual General Meeting

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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.