Quorum of directors
Source:
Section 707 — Quorum of directors, https://www.nysenate.gov/legislation/laws/NPC/707 (updated Sep. 22, 2014; accessed Jan. 17, 2026).
701
Board of directors 702
Number of directors 703
Election and term of office of directors 704
Classification of directors 705
Newly created directorships and vacancies 706
Removal of directors 707
Quorum of directors 708
Action by the board 709
Greater requirement as to quorum and vote of directors 710
Place and time of meetings of the board 711
Notice of meetings of the board 712
Executive committee and other committees 712–A
Audit oversight 713
Officers 714
Removal of officers 715
Related party transactions 715–A
Conflict of interest policy 715–B
Whistleblower policy 716
Loans to directors, officers and key persons 717
Duty of directors, officers and key persons 718
List of directors, officers and key persons 719
Liability of directors in certain cases 720
Actions against directors, officers and key persons 720–A
Liability of directors, officers, trustees and key persons 721
Nonexclusivity of statutory provisions for indemnification of directors and officers 722
Authorization for indemnification of directors and officers 723
Payment of indemnification other than by court award 724
Indemnification of directors and officers by a court 725
Other provisions affecting indemnification of directors and officers 726
Insurance for indemnification of directors and officers
Board of directors 702
Number of directors 703
Election and term of office of directors 704
Classification of directors 705
Newly created directorships and vacancies 706
Removal of directors 707
Quorum of directors 708
Action by the board 709
Greater requirement as to quorum and vote of directors 710
Place and time of meetings of the board 711
Notice of meetings of the board 712
Executive committee and other committees 712–A
Audit oversight 713
Officers 714
Removal of officers 715
Related party transactions 715–A
Conflict of interest policy 715–B
Whistleblower policy 716
Loans to directors, officers and key persons 717
Duty of directors, officers and key persons 718
List of directors, officers and key persons 719
Liability of directors in certain cases 720
Actions against directors, officers and key persons 720–A
Liability of directors, officers, trustees and key persons 721
Nonexclusivity of statutory provisions for indemnification of directors and officers 722
Authorization for indemnification of directors and officers 723
Payment of indemnification other than by court award 724
Indemnification of directors and officers by a court 725
Other provisions affecting indemnification of directors and officers 726
Insurance for indemnification of directors and officers
