Which of the following is true of a quorum?
A)It is the maximum number of proxies that are allowed
B)Statutes, bylaws, or the articles of incorporation ordinarily require a majority of outstanding stock to constitute a quorum.
C)A stockholder's proxy cannot be counted in reaching a quorum in a convened meeting.
D)At common law, a quorum consisted of the number of proxies at a properly convened meeting.

Question

Quizplus · Accepted Answer

A quorum typically refers to the minimum number of members of a deliberative assembly necessary to conduct the business of that group. For corporate meetings, statutes, bylaws, or the articles of incorporation usually specify that a majority of the outstanding stock must be present (either in person or by proxy) to constitute a quorum. This ensures that decisions are made with a broad base of support.

Which of the Following Is True of a Quorum