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New York Limited Liability Company Law Section 404 - Quorum Of Members.

Legal Research Home > New York Lawyer > Limited Liability Company > New York Limited Liability Company Law Section 404 - Quorum Of Members.

    § 404.  Quorum  of  members.  (a) Except as provided in the operating
  agreement, a majority in interest of the members entitled to vote  shall
  constitute  a  quorum at a meeting of members for the transaction of any
  business, provided that when a specified item of business is required to
  be voted on by a class of members voting  as  a  class,  a  majority  in
  interest  of the members of such class shall constitute a quorum for the
  transaction of such specified item of business.
    (b) The operating agreement may provide for  a  greater  quorum  or  a
  lesser  quorum,  provided that such lesser quorum shall not be less than
  one-third in interest of the members entitled to vote.
    (c) When a quorum is once present to organize a  meeting,  it  is  not
  broken by the subsequent withdrawal of any members.
    (d) The members present may adjourn the meeting despite the absence of
  a quorum.

Last modified: August 10, 2006