§ 1-16b-9

1-16B-9. Quorum of board--Action by majority present.A majority of the members constitutes a quorum of the board of directors for the purpose of organizing the authority and conducting business. Except when passing upon loan applications, any action may be taken by a vote of a majority of the members present, unless the rules of the board require a larger number. Source: SL 1978, ch 9, §6.