The frequency of meetings are often statutorily mandated. For example, Directors must hold a meeting upon issuance of certificate of incorporation under s. 104 of the CBCA, then as frequently as the by-laws or articles require. Quorum is set at a majority under s. 114 unless changed in the by-laws or articles. Quorum is a highly negotiated topic, as it governs the corporate actions. It is also usually subject to the management rights section. Under the CBCA, shareholders must "hold a shareholders' meeting on a date that is no later than 15 months after holding the last preceding annual meeting, but no later than six months after the end of its preceding financial year." Alternatively, shareholders may pass a resolution in lieu of meeting. A resolution in lieu of a meeting may be useful for small corporations that have only one or a few shareholders.