§ 6:273 — Quorum

Louisiana § 6:273

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

§273. Quorum
A. A stockholders' meeting properly called on due notice, if notice is required, may
be organized for the transaction of business whenever a quorum is present.
B. Except as otherwise provided in this Chapter or in the articles or bylaws:
(1) The presence, in person, by remote communication as provided in R.S. 12:1-709,
or by proxy, of the holders of the majority of the total voting power shall constitute a
quorum, except that in no event shall a quorum consist of less than one-fourth of the total
voting power.
(2) The stockholders present or represented at a duly organized meeting shall
constitute a quorum and may continue to do business until adjournment notwithstanding the
withdrawal of enough stockholders to leave less than a quorum as fixed in Paragraph (1) of
this Subsection or in the articles or bylaws or the refusal of any stockholders present to vote.
(3)(a) If a meeting cannot be organized because a quorum has not attended, those
present may adjourn the meeting to such time and place as they may determine, subject
however, to the provisions of R.S. 6:272(C).
(b) In the case of any meeting called for the election of directors, those who attend
the second of such adjourned meetings, although less than a quorum as fixed in Paragraph
(1) of this Subsection or in the articles or bylaws, shall nevertheless constitute a quorum for
the purpose of electing directors.

Legislative History

Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 2021, No. 23, §1, eff. June 1, 2021.