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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 5. (a) Except as otherwise provided in this article, articles of incorporation, or bylaws, a quorum of a board of directors consists of a majority of the directors in office immediately before a meeting begins. Articles of incorporation or bylaws may not authorize a quorum of fewer than the greater of the following:
(1) One-third ( 1/3 ) of the number of directors in office.
(2) Two (2) directors.
(b) If a quorum is present in person when a vote is taken, the affirmative vote of a majority of directors:
(1) who are present in person; or
(2) in the case of a mutual benefit corporation that:
(A) is an electric cooperative; and
(B) has at least one (1) member that is a corporation formed under IC 8-1-13;
who are present in person or by proxy as provided under section 5.5 of this chapter;
when the act is taken is the act of the board of directors unless this article, articles of incorporation, or bylaws require the vote of a greater number of directors.
Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-17-15-5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-17-15-5/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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