N.Y. Banking Law § 6008

Current through 2024 NY Law Chapters 1-59 and 61-121
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.

N.Y. Banking Law § 6008