N.J. Stat. § 16:1-5: Corporate action by majority of members; presence in person; validity

The proceedings, orders and acts of a majority of the members of such corporation present in person at any duly convened annual or special meeting, but not of a less number shall be valid and effectual.

Amended by L.1955, c. 124, p. 605, s. 1, eff. July 8, 1955.