§ 55A-8-24. Quorum and voting.

260 words·~1 min read·/nc/chapter-55a/55a-8-24

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except as otherwise provided in:

(i)this Chapter,

(ii)the articles of incorporation, or

(iii)the bylaws, a quorum of a board of directors consists of a majority of the directors in office immediately before a meeting begins. In no event may the articles of incorporation or bylaws authorize a quorum of fewer than one-third of the number of directors in office.

(b)If a quorum is present when a vote is taken, the affirmative vote of a majority of directors present is the act of the board unless:

(i)this Chapter,

(ii)the articles of incorporation, or

(iii)the bylaws require the vote of a greater number of directors.

(c)A director who is present at a meeting of the board of directors or a committee of the board of directors when corporate action is taken is deemed to have assented to the action taken unless:

(1)He objects at the beginning of the meeting (or promptly upon his arrival) to holding it or transacting business at the meeting;

(2)His dissent or abstention from the action taken is entered in the minutes of the meeting; or

(3)He files written notice of his dissent or abstention with the presiding officer of the meeting before its adjournment or with the corporation immediately after adjournment of the meeting. The right of dissent or abstention is not available to a director who votes in favor of the action taken. (1955, c. 1230; 1985 (Reg. Sess., 1986), c. 801, s. 33; 1993, c. 398, s. 1.)