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Yes, they would be allowed to fill any open spots due to graduation (or whatever) that puts them under total. There may be exceptions to this rule (moratoriums during colonization recruitments perhaps?) but as a general rule, total is the magic number. Let's say total is 100 at our mythical campus.
Chapter ABC has 82 returning members and takes quota of 30, putting them over total at 112. Fifteen members graduate in December, leaving ABC with 97 members. ABC can then fill to total, meaning they can pledge three women. ABC can decide whether to conduct formal COR activities or quietly fill the few spots they have available at the start of the semester.
However, there is at least one school (Ohio State) that does NOT permit chapters to exceed total, regardless of the set FR quota number. So in this example, if ABC is at OSU and returns with 82 members, they can only take 18 during formal recruitment. No quota, no exceeding total, and then can only COR if they fall under total.
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