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 ?
Roberts said, "Back in the 1970s, we had a quorum requirement of 25.
Brimfield's quorum is 50 at annual town meetings, and 25 at special town meetings.
Leicester has about 6,200 registered voters, and a town meeting quorum of 50, according to Town Clerk Patricia A.
Dudley's town meeting quorum is 51 voters, according to Town Clerk Ora E.