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 ?
Kelley said, "I would like to see a more workable number - a quorum of 60 or 70 - so we can conduct business.
She said the current quorum in Oxford is 2 percent of the registered voters from the previous town election, which meant at least 167 voters were needed at the May 2 annual town meeting.
Communities with no quorum requirement include Andover, Charlton, Grafton, Hardwick, Harvard, Mendon, Norwell, Sterling, Sturbridge, Templeton and Westminster; in Connecticut, Putnam, Thompson and Woodstock.
Nichols said, "It certainly works well for us, especially when we see what other towns with quorum requirements go through.