The Inkilwas Corporation has 30,000 shares outstanding. A shareholders' meeting is duly called to amend the articles of incorporation, and 17,501 shares are represented at the meeting. According to the RMBCA, what is the minimum outstanding shares that must be represented in this case to have a quorum?

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Quizplus · Accepted Answer

According to the RMBCA, a quorum is defined as "a majority of the shares entitled to vote on the matter." In this case, a majority would be 50% plus 1, which is 15,001 shares. Therefore, the minimum outstanding shares that must be represented to have a quorum is 15,001.

The Inkilwas Corporation Has 30,000 Shares Outstanding