06/06/2026
๐ฆ๐ฌ๐๐๐๐ฟ๐ถ๐๐ถ๐ฎ | ๐ค๐๐ผ๐ฟ๐๐บ
In a corporate context, a quorum is the minimum number of stockholders, directors, or trustees who must be present before the corporation can legally conduct business and make decisions. This requirement ensures that important corporate actions are made with adequate participation and representation, preventing only a small group from making decisions on behalf of the corporation.
In corporate meetings, a quorum serves as proof that enough members are present to represent the interests of the corporation. Once a quorum is established, the corporation may proceed with official business such as approving resolutions, electing officers, authorizing transactions, and making other significant decisions.
Source: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
๐ผ๏ธ: Randy B. Cuarteron, Vice Governor