Vermont Statutes Title 11 Sec. 815
Terms Used In Vermont Statutes Title 11 Sec. 815
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
§ 815. Short title
This chapter shall be known and may be cited as the Vermont Professional Corporation Act. (Added 2001, No. 77 (Adj. Sess.), § 1.)
Vermont Statutes Title 11 Sec. 815
Terms Used In Vermont Statutes Title 11 Sec. 815
- Articles of organization: means the articles of organization of a mutual benefit enterprise required by section 302 of this title. See
- Board of directors: means the board of directors of a mutual benefit enterprise. See
- Director: means a director of a mutual benefit enterprise. See
- Organic rules: means the articles of organization and bylaws of a mutual benefit enterprise. See
- Quorum: The number of legislators that must be present to do business.
§ 815. Quorum
(a) Unless the articles of organization 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.
(b) 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.
(c) A director present at a meeting but objecting to notice under subdivision 814(b)(1) or (2) of this title does not count toward a quorum. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)