Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
277 Quorum
shareholders is present at a meeting of shareholders if the holders
of a majority of the shares who are entitled to vote at the meeting
are present in person or represented by proxyholders.
(2) A quorum of participating policyholders is present at a meeting
of participating policyholders if at least 100 participating
policyholders or 10% of the total number of those policyholders,
whichever is fewer, are present in person or represented by
proxyholders.
(3) A quorum of participating policyholders and shareholders is
present at a meeting of participating policyholders and shareholders
if
(a) unless the bylaws otherwis e provide, the holders of a
majority of the shares who are entitled to vote at the
meeting, and
(b) at least 100 participating policyholders or 10% of the total
number of those policyholders, whichever is fewer,
are present in person or represented by proxyholders.
(4) If a quorum is present at the opening of a meeting of
participating policyholders or shareholders, the participating
policyholders or shareholders present may, unless the bylaws
otherwise provide, proceed with the business of the meeting even
though a quorum is not present throughout the meeting.
RSA 2000
(5) If a quorum is not present at the opening of a meeting of
participating policyholders or shareholders, or within such
reasonable time after the opening of the meeting as the
participating policyholders or shareholders present may determine,
the participating policyholders or shareholders present may adjourn
the meeting to a fixed time and place, but must not transact any
other business.
1999 cI-5.1 s277