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State corporation statutes provide either a fixed standard for a quorum (usually consisting of a majority of votes entitled to be cast at a meeting) or permit the quorum to be specified in the company's certificate of incorporation or bylaws. Delaware General Corporation Law provides that the certificate of incorporation or bylaws may specify the quorum, so long as the quorum consists of at least one-third of the shares entitled to vote at a meeting. Absent specification in the certificate of incorporation or bylaws, a majority of the shares entitled to vote constitutes a quorum.
Created By:
Russell Benasaraf
03-18-2014
Last Updated By:
Russell Benasaraf
03-18-2014
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