2018 New Jersey Revised Statutes
Title 14A - CORPORATIONS, GENERAL
Chapter 5 - Place of shareholders' meetings
Section 14a:5-9 - Quorum of shareholders
Section: 14A:5-9: Quorum of shareholders
(1) Unless otherwise provided in the certificate of incorporation or this act, the holders of shares entitled to cast a majority of the votes at a meeting shall constitute a quorum at such meeting. The shareholders present in person or by proxy at a duly organized meeting may continue to do business until adjournment, notwithstanding the withdrawal of enough shareholders to leave less than a quorum. Less than a quorum may adjourn.
(2) Whenever the holders of any class or series of shares are entitled to vote separately on a specified item of business, the provisions of this section shall apply in determining the presence of a quorum of such class or series for the transaction of such specified item of business.
L.1968, c.350.
