N.Y. Banking Law Section 6008
Quorum of stockholders


1.

The holders of a majority of the shares entitled to vote thereat shall constitute a quorum at a meeting of stockholders for the transaction of any business, provided that when a specified item of business is required to be voted on by a class or series, voting as a class, the holders of a majority of the shares of such class or series shall constitute a quorum for the transaction of such specified item of business.

2.

The organization certificate or by-laws may provide for any lesser quorum not less than one-third of the shares entitled to vote, and the organization certificate may, under section six thousand sixteen, provide for a greater quorum.

3.

When a quorum is once present to organize a meeting, it is not broken by the subsequent withdrawal of any stockholders.

4.

The stockholders present may adjourn the meeting despite the absence of a quorum.

Source: Section 6008 — Quorum of stockholders, https://www.­nysenate.­gov/legislation/laws/BNK/6008 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 6008’s source at nysenate​.gov

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