Quorum

4.5 Quorum:
A majority of Advisors (eight (8) advisors) shall constitute a quorum for the transaction of business at any Advisor Board meeting but, if less than such majority be present at a meeting, a majority of the Advisors present may adjourn the meeting from time to time without further notice. Members of the Advisor Board may participate in an Advisor Board meeting or committee meeting by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can receive communication from each other at the same time, and participation by such means shall constitute presence in person at a meeting.
4.6 Manner of Acting:
The act approved by the majority of the Advisors present at a meeting at which a quorum is present shall be the act of the Advisor Board.

Close This Window