Form with which a shareholder may authorize another to participate in a corporation vote in the shareholder's place.
Alabama Proxy Form - Corporate Resolutions
State:
Multi-State
Control #:
US-0096-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
A proxy vote is a ballot cast by one person or firm on behalf of a shareholder of a corporation who may not be able to attend a shareholder meeting, or who otherwise desires not to vote on an issue.
A proxy statement is a document provided by public corporations so that their shareholders can understand how to vote at shareholder meetings and make informed decisions about how to delegate their votes to a proxy.
A resolution of members (or a class of members) of a company passed by: On a show of hands at a general meeting, a majority of not less than 75% if it is passed by not less than 75% of the votes cast by those entitled to vote (section 283(4), Companies Act 2006).
Under Section 105(1) of the Companies Act, 2013 (hereinafter, CA), any member who is entitled to attend and vote in a company meeting can appoint a proxy. However, a proxy cannot be appointed by a member of a company not having a share capital unless the Articles provide for it.
The proxy documents provide shareholders with the information necessary to make informed votes on issues important to the company's performance. A Proxy statement offers shareholders and prospective investors insight into a company's governance and management operations.
The resolution should always start with RESOLVED THAT in bold letters. a. Number of Meeting (i.e. 1st or 2nd etc.) CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE SEVENTH MEETING OF THE BOARD OF DIRECTORS FOR THE FY 2018-19 OF (NAME OF COMPANY) HELD AT THE (ADDRESS) ON (DATE) AT (TIME).
Special resolutions - also known as 'extraordinary resolutions' - are needed for more important decisions or those decisions affecting the constitution of a company. These require at least 75% of the shareholders or directors to agree - and in some situations as much as 95%.
Generally, the majority of company shareholders do not show up to the shareholders meetings. Instead, they assign their votes to individuals to vote on their behalf. This process is known as a corporate proxy. The proxy will vote the shareholders shares in the manner indicated on a proxy ballot.
Since most shareholders can't attend the company meeting, they will often designate someone, such as a member of the company's management team to vote for them. This person is referred to as a proxy and can cast a proxy vote as per the shareholder's wishes, written on their proxy card.
Special ResolutionsAmendments to memorandum and articles of association; Change in company name; Reduction in share capital; Voluntary wind up of a company; and.
