Effective: March 20, 2019
Latest Legislation: House Bill 489 – 132nd General Assembly
The quorum for a members’ meeting, which may be set forth in the articles or regulations of a credit union, shall include those members present and eligible to vote as provided in section 1733.13 of the Revised Code. Unless the articles or regulations otherwise provide:
(A) One per cent of the voting members of a credit union, or twenty-five, whichever is lower, constitutes a quorum at any meeting of members.
(B) The act of a majority of the voting members represented in person, by mail ballot, by electronic ballot, by proxy, or as otherwise prescribed by a credit union’s bylaws, at a meeting at which a quorum is present shall control, but no action required by law, the articles, or regulations to be authorized or taken by a designated proportion of the members may be authorized or taken by a lesser proportion.
(C) The voting members represented at a meeting, whether or not a quorum is present, may adjourn such meeting from time to time.