§ 6008 — Quorum of stockholders

New York § 6008

• Jurisdiction: New York
• Law BNK: Banking
• Title 6: Stockholders
• Art. 15: General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies

Text

§ 6008. Quorum of stockholders. 1. The holders of a majority of the\nshares entitled to vote thereat shall constitute a quorum at a meeting\nof stockholders for the transaction of any business, provided that when\na specified item of business is required to be voted on by a class or\nseries, voting as a class, the holders of a majority of the shares of\nsuch class or series shall constitute a quorum for the transaction of\nsuch specified item of business.\n 2. The organization certificate or by-laws may provide for any lesser\nquorum not less than one-third of the shares entitled to vote, and the\norganization certificate may, under section six thousand sixteen,\nprovide for a greater quorum.\n 3. When a quorum is once present to organize a meeting, it is not\nbroken by the subsequent withdrawal of any stockholders.\n 4. The stockholders present may adjourn the meeting despite the\nabsence of a quorum.\n