New York Consolidated Laws, Banking Law - BNK § 6008. Quorum of stockholders

1. The holders of a majority of the shares entitled to vote thereat shall constitute a quorum at a meeting of stockholders for the transaction of any business, provided that when a specified item of business is required to be voted on by a class or series, voting as a class, the holders of a majority of the shares of such class or series shall constitute a quorum for the transaction of such specified item of business.

2. The organization certificate or by-laws may provide for any lesser quorum not less than one-third of the shares entitled to vote, and the organization certificate may, under section six thousand sixteen, provide for a greater quorum.

3. When a quorum is once present to organize a meeting, it is not broken by the subsequent withdrawal of any stockholders.

4. The stockholders present may adjourn the meeting despite the absence of a quorum.