A quorum is the minimum number of votes or persons required by the Law or by the by-laws of a corporation so that decisions may validly be made at a meeting of directors or at a shareholders meeting of the corporation.

Unless otherwise provided in the by-laws, upon a meeting of directors of a corporation, a quorum is present when the majority of the fixed or minimum number of directors in office is present at the board meeting.

Unless otherwise provided in the by-laws, a quorum of shareholders is present at a corporation's shareholders meeting when shareholders holding more than 50% of voting shares are present in person or represented by proxy.