A majority, or a larger or smaller proportion or number provided in the articles or bylaws, of the directors currently holding office is a quorum for the transaction of business. In the absence of a quorum, a majority of the directors present may adjourn a meeting from time to time until a quorum is present. If a quorum is present when a duly called or held meeting is convened, the directors present may continue to transact business until adjournment, even though the withdrawal of a number of directors originally present leaves less than the proportion or number otherwise required for a quorum.
Minn. Stat. § 302A.235
QUORUM.
Known as the Minnesota Business Corporation Act
The act spans §§ 302–302 (139 sections).
Applied in 1 court decision — leading case Possis Corp. v. Continental MacHines, Inc. (1988)
Most recently applied in Possis Corp. v. Continental MacHines, Inc. (June 1988)
1981 c 270 s 39; 1982 c 497 s 70
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.