Kentucky Statutes 272A.8-150 – Quorum
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(1) Unless the articles of association provide for a greater number, a majority of the total number of directors specified by the organic rules constitutes a quorum for a meeting of the directors.
(2) If a quorum of the board of directors is present at the beginning of a meeting, any action taken by the directors present is valid even if withdrawal of directors originally present results in the number of directors being fewer than the number required for a quorum.
(3) A director present at a meeting but objecting to notice under KRS § 272A.8-140(2)
does not count toward a quorum.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 68, effective July 12, 2012.
(2) If a quorum of the board of directors is present at the beginning of a meeting, any action taken by the directors present is valid even if withdrawal of directors originally present results in the number of directors being fewer than the number required for a quorum.
Terms Used In Kentucky Statutes 272A.8-150
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Articles of association: means the articles of association of a limited cooperative association required by KRS §. See Kentucky Statutes 272A.1-020
- Director: means a director of a limited cooperative association. See Kentucky Statutes 272A.1-020
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Quorum: The number of legislators that must be present to do business.
(3) A director present at a meeting but objecting to notice under KRS § 272A.8-140(2)
does not count toward a quorum.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 68, effective July 12, 2012.