State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_47F > GS_47F-3-109

§47F‑3‑109.  Quorums.

(a)        Unless the bylawsprovide otherwise, a quorum is present throughout any meeting of theassociation if persons entitled to cast ten percent (10%) of the votes whichmay be cast for election of the executive board are present in person or byproxy at the beginning of the meeting.

(b)        Unless the bylawsspecify a larger percentage, a quorum is deemed present throughout any meetingof the executive board if persons entitled to cast fifty percent (50%) of thevotes on that board are present at the beginning of the meeting.

(c)        In the eventbusiness cannot be conducted at any meeting because a quorum is not present,that meeting may be adjourned to a later date by the affirmative vote of amajority of those present in person or by proxy. Notwithstanding any provisionto the contrary in the declaration or the bylaws, the quorum requirement at thenext meeting shall be one‑half of the quorum requirement applicable tothe meeting adjourned for lack of a quorum. This provision shall continue toreduce the quorum by fifty percent (50%) from that required at the previousmeeting, as previously reduced, until such time as a quorum is present andbusiness can be conducted. (1998‑199, s. 1.)