Definition of Quorum:
Fixed minimum number of eligible members or stockholders (shareholders) who must be present (physically or by proxy) at a meeting before any official business may be transacted or a decision taken therein becomes legally binding. Usually the articles of association or bylaws of a firm specify this number, otherwise the number prescribed in corporate legislation (such as company law) is followed.
A quorum normally consists of a group that is considered as large as possible to be depended on to attend all corporate meetings, which is a qualitative assessment. The plural of a quorum is "quora.".
The minimum number of members of an assembly or society that must be present at any of its meetings to make the proceedings of that meeting valid.
A quorum refers to the minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter. This clause or general agreement ensures there is sufficient representation present at meetings before any changes can be made by the board.
Synonyms of Quorum
Assemblee, Assembly, Assignation, At home, Ball, Brawl, Caucus, Colloquium, Commission, Committee, Conclave, Concourse, Congregation, Congress, Conventicle, Convention, Convocation, Council, Dance, Date, Diet, Eisteddfod, Festivity, Fete, Forgathering, Forum, Gathering, Get-together, Housewarming, Levee, Meet, Meeting, Panel, Party, Plenum, Prom, Rally, Reception, Rendezvous, Seance, Session, Shindig, Sit-in, Sitting, Soiree, Symposium, Synod, Turnout
How to use Quorum in a sentence?
- Several guidelines exist that companies can draw upon to determine the appropriate formula for their quorum.
- Im sorry but I cannot discuss this at this time, in order for me to speak about this we must achieve a quorum.
- Companies often stipulate the quorum required among shareholders in order to make decisions, spelled out in the corporate charter.
- We could not hold the meeting until the quorum was in attendance, as that was the requirement before the board could handle any official business.
- Are these meetings valid as the quorum must be from the persons who are entitled to attend and vote at such meetings?.
- A quorum is a minimum level of interest or attendance required before an official meeting or action can take place.
- With the arrival of the new member to the meeting, the company had reached its quorum and could now officially vote on the new stock referendum.
- A quorum could be a simple 51% majority or some more specific or complex arrangement.
Meaning of Quorum & Quorum Definition