Definition : Board of directors - Adjournment

Act by which the chairman of the board of directors ends a meeting or adjourns it to a later date in the event the quorum is not reached. The items on the agenda which have not been dealt with are the adjourned to future date. In such cases, a notice must be given to all the co-owners concerning the date on which it is postponed.

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The decisions made by the directors must be noted and recorded in the minutes. These are is an essential co-ownership document, because it ensures the written preservation of the board of directors’ deliberations, and of the results of each vote, so that any co-owner and director can refer to them over time. It also allows to verify if the meeting of the Board of Directors was conducted within the rules. Given its importance, this document must respect a certain form.
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