(805 ILCS 5/7.60) (from Ch. 32, par. 7.60)
Sec. 7.60.
Quorum of shareholders.
Unless otherwise provided in the articles of incorporation, a majority
of votes of the shares, entitled to vote on a matter,
represented in
person or by proxy, shall
constitute a quorum for consideration of such matter at a meeting of
shareholders,
but in no event shall a
quorum consist of less than one-third of the votes of the
shares entitled
so to vote. If a
quorum is present, the affirmative vote of the majority of the votes of the
shares
represented at the meeting and entitled to vote on a matter shall be the
act of the shareholders, unless a greater number of votes or voting by classes
is required by
this Act or
the articles of incorporation. The articles of incorporation may require
any number or percent greater than a majority of votes up to and including
a requirement
of unanimity to constitute a quorum.
(Source: P.A. 89-48, eff. 6-23-95.)
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