N.Y. Business Corporation Law 707 – Quorum of directors
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§ 707. Quorum of directors.
Terms Used In N.Y. Business Corporation Law 707
- entire board: means the total number of directors which the corporation would have if there were no vacancies. See N.Y. Business Corporation Law 702
- Quorum: The number of legislators that must be present to do business.
Unless a greater proportion is required by the certificate of incorporation, a majority of the entire board shall constitute a quorum for the transaction of business or of any specified item of business, except that the certificate of incorporation or the by-laws may fix the quorum at less than a majority of the entire board but not less than one-third thereof.