Quorum
The minimum number of members or board members who must be present at a meeting before official business can be conducted. For board meetings, a quorum is typically a majority of directors. For member meetings, quorum requirements are set in the bylaws and are often between 25% and 50% of total membership. Without a quorum, no binding votes can be taken.
Example in Context
The annual meeting was adjourned because only 15% of owners attended, falling short of the 25% quorum required by the bylaws.