Quorum and Voting
Sec. 4.9 (a) At all meetings of the Board, unless otherwise set forth in these By-Laws or required by law, a quorum for the transaction of business shall consist of a majority of the Board, including not less than 50 percent of the Public Directors. In the absence of a quorum, a majority of the Directors present may adjourn the meeting until a quorum is present.
(b) The vote of a majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board.
Deleted by SR-FINRA-2015-034 eff. Dec. 20, 2015. Amended by SR-FINRA-2010-007 eff. Aug. 2, 2010. Adopted by SR-NASD-99-21 eff. July 9, 2000. Selected Notice: 10-32. |