75‑105 Quorum75‑105 Quorum

75‑105 Quorum

(1) A quorum consists of: (a) the trustee present in person; and (b) one person entitled to vote present in person; and (c) if the number of persons entitled to vote is 2 or more—one or more other persons entitled to vote present in person or by proxy or attorney. (3) If a quorum is not present within 30 minutes after the time appointed for a meeting, the meeting is adjourned: (a) to the same day in the next week at the same time and place; or (b) to the day (not being less than 5 or more than 15 business days after the day on which the meeting is adjourned) and at the time and place that the person presiding appoints. (4) The trustee must give notice of the adjournment by the end of the next business day to the persons to whom notice of the meeting must be given under section 75‑10. (5) A meeting on the date and at the place to which the meeting is adjourned is not to be taken to be incompetent to act only because of a failure to comply with subsection (4) unless the Court, on the application of the trustee or of a creditor, otherwise declares. (6) If a quorum is not present within 30 minutes after the time appointed for the adjourned meeting, the adjourned meeting lapses.