Under the Model Act and in a majority of the states,a quorum of shareholders at an annual meeting may be not less than ____ percent of the shares entitled to vote.
A) 10
B) 33 1/3
C) 66 2/3
D) 50

Question

Quizplus · Accepted Answer

Under the Model Act and in a majority of states, a quorum for shareholder meetings is typically set at not less than 33 1/3 percent of the shares entitled to vote. This threshold ensures that a significant portion of shareholders must be present (in person or by proxy) for business to be validly conducted.

Under the Model Act and in a Majority of the States,a