Marginal note:Quorum
771 (1) Subject to section 772, the number of directors referred to in subsection (2) constitutes a quorum at any meeting of directors or a committee of directors and, notwithstanding any vacancy among the directors, a quorum of directors may exercise all the powers of the directors.
Marginal note:Quorum
(2) The number of directors constituting a quorum at any meeting of directors or a committee of directors shall be
(a) a majority of the minimum number of directors required by this Part for the board of directors or a committee of directors; or
(b) such greater number of directors than the number calculated pursuant to paragraph (a) as may be established by the by-laws of the bank holding company.
Marginal note:Director continues to be present
(3) A director who is present at a meeting of directors or of a committee of directors but is not, in accordance with subsection 790(1), present at any particular time during the meeting is considered to be present for the purposes of this section.
- 2001, c. 9, s. 183
- 2005, c. 54, s. 107
- Date modified: