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Quorum and Voting

Sec. 4.9  (a) At all meetings of the Board, unless otherwise set forth in these By-Laws or required by law, a quorum for the transaction of business shall consist of a majority of the Board, including not less than 50 percent of the Public Directors. In the absence of a quorum, a majority of the Directors present may adjourn the meeting until a quorum is present.
(b) The vote of a majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board.
Amended by SR-FINRA-2009-020 eff. Aug. 20, 2009.
Amended by SR-NASD-97-71 eff. Jan. 15, 1998.

Selected Notice: 09-39.