North Dakota Code 10-19.1-76 – Quorum of shareholders
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1. Unless otherwise provided in the articles or bylaws, a quorum for a meeting of shareholders is the holders of a majority of the voting power of the shares entitled to vote at the meeting.
Terms Used In North Dakota Code 10-19.1-76
- Quorum: The number of legislators that must be present to do business.
2. Except as provided in subdivision b, a quorum is necessary for the transaction of business at a meeting of shareholders.
a. If a quorum is not present, a meeting may be adjourned from time to time for that reason.
b. If a quorum has been present at a meeting and shareholders have withdrawn from the meeting so that less than a quorum remains, the shareholders still present may continue to transact business until adjournment.