§ 4004 — Quorum of annual or special meetings

Illinois § 4004

• Jurisdiction: Illinois
• Topic: REGULATION
• Ch. 205: FINANCIAL REGULATION
• Act 205 ILCS 205/: Savings Bank Act.
• Art.: Article 4 - Membership

Text

The articles of incorporation may specify a quorum requirement, but it may not be less than one-third of the total number of votes entitled to be voted at a meeting. Any meeting, including one at which a quorum is not present, may be adjourned to a specified date without future notice.

Legislative History

(Source: P.A. 86-1213.)