When a Meeting Opens with a Quorum, the Quorum Is

question 35

True/False

When a meeting opens with a quorum, the quorum is broken if shareholders leave and those remaining are not sufficient to constitute a quorum.

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Definitions:

Annuity Contract

A financial product sold by an insurance company that provides guaranteed income over a period of time for a flat or periodic payment.

After-tax Dollars

Money that an individual has left over after all income taxes have been deducted, which can then be invested or spent.

Tax-free

Financial gains or receipts that are not subject to tax by authorities, often due to specific exemptions or regulations.

Tax-deferred Plans

Retirement or investment accounts that allow taxpayers to postpone tax liabilities on earnings until funds are withdrawn in the future.