Meetings are the formal or informal assembly of individuals called to deliberate and exchange information and decide upon a plan of action. Formal meetings are convened at a designated time and location and follow a predetermined agenda. In a corporate setting, they are divided into two main groups (1) Organizational meeting: normally a regular meeting...
Read more »

A proxy is a written authorization empowering another person to vote or act for the absent member.
Read more »

It is necessary to have a fixed minimum number of eligible voting members present (physically or by proxy) at a meeting to transact business or make final decisions. The bylaws of an organization specify this number. In the absence of a provision in the bylaws, the quorum is then the majority of eligible voting...
Read more »

A committee is comprised of an individual or a group appointed or elected by an organization. The purpose of a committee is to investigate, analyze, and propose resolution of specific subject matter. A committee has no power per se, except the power assigned to it by its governing body.
Read more »

The bylaws of an organization are the rules and regulations that govern the management of a corporation.
Read more »

In U.S. publicly-traded companies an audit committee is an operating committee of the Board of Directors charged with oversight of financial reporting and disclosure. Committee members are drawn from members of the company’s board of directors, with a Chairperson selected from among the committee members. A qualifying audit committee is required for a U.S....
Read more »

An amendment is a modification to any official document or record.
Read more »

Ex-Officio members hold voting rights by virtue of the office they hold. They are not required to attend all committee meetings and are not counted in determining a quorum.
Read more »

A president-elect has been elected president but has not yet officially taken office, as it is still occupied by the current outgoing president.
Read more »

A delegate is a representative appointed by a voting member to transact business in the member’s absence.
Read more »

A charter is a statement of the mission, authority and activities of a group.
Read more »

A motion is a formal request to approve a resolution or specific action. For example: “I move that…..” places a motion into order. A second motion is required to advance the resolotion or action for discussion and approval. ” I second that motion…..”
Read more »

The Board of Directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. The body sometimes has a different name, such as board of trustees, board of governors, board of managers, or executive board. It is often simply referred to as “the board.”
Read more »