Kiritsis & Associates

 

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    Quorum and voting legal requirements for New York business corporations.

    Law Offices of John Kiritsis, Esq.Phone: 212-922-0005 

    By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

     

    A look at the New York BCL (Business Corporation Law), would often be essential with regards to corporate governance legal issues involving New York business corporations.  Although, business corporation laws and regulations are always changing in New York, it may be worth noting, that this may be a particular topical area of the law subject to massive changes.

     

    A majority of the entire board constitutes a quorum for the transaction of business, except that the certificate of incorporation or the by-laws may fix the quorum at less than a majority but not less than one-third per Section 707 of the BCL, and the certificate of incorporation may fix the quorum at more than a majority for the transaction of all, or any specified item of, business (See Section 709 of the BCL). Board action requires the majority vote of the directors present at the time of the vote provided a quorum is present as per Section 708 of the BCL, except that the certificate of incorporation may provide that a greater proportion of votes shall be necessary for the transaction of all, or any specified item of, business (See Section 709 of the BCL). Unless otherwise restricted by the certificate of incorporation or the by-laws, directors may participate in a meeting by means of a conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time, and such participation constitutes presence at the meeting (See Section 708 of the BCL).

     

    As with other topical corporation law areas -- this is another area, where New York corporate laws, may differ somewhat substantially, from their Delaware counterpart laws and regulations.

    Law Offices of Kiritsis & Associates
    Phone # 212 922 0005

    Manhattan Office (Main Office):
    633 Third Avenue
    New York, NY 10017
    Suite 1306

    Brooklyn Office (By Appointment Only):
    1023 74th Street
    Brooklyn, NY 11228
    1st Floor

    New Jersey Office:
    7309 Ventnor Avenue
    Ventnor, NJ 08406
    2nd Floor

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    We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.

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    Phone: (212) – 922 – 0005

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