2006 Code of Virginia § 13.1-666 - Quorum and voting requirements for voting groups
13.1-666. Quorum and voting requirements for voting groups.
A. Shares entitled to vote as a separate voting group may take action on amatter at a meeting only if a quorum of those shares exists with respect tothat matter. Unless the articles of incorporation or this chapter providesotherwise, a majority of the votes entitled to be cast on the matter by thevoting group constitutes a quorum of that voting group for action on thatmatter.
B. Once a share is represented for any purpose at a meeting, it is deemedpresent for quorum purposes for the remainder of the meeting and for anyadjournment of that meeting unless a new record date is or shall be set forthat adjourned meeting.
C. If a quorum exists, action on a matter, other than the election ofdirectors, by a voting group is approved if the votes cast within the votinggroup favoring the action exceed the votes cast opposing the action, unlessthe articles of incorporation or this chapter requires a greater number ofaffirmative votes.
D. Less than a quorum may adjourn a meeting.
E. The election of directors is governed by 13.1-669.
(Code 1950, 13.1-31; 1956, c. 428; 1985, c. 522.)
Disclaimer: These codes may not be the most recent version. Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.