Form with which a shareholder who has granted another the right to vote on his/her behalf may revoke the granting of that right.
The Arkansas Revocation of Proxy — Corporate Resolution refers to a legal document filed by a corporation in Arkansas that allows it to revoke an existing proxy given by one of its shareholders to another individual or entity. This revocation is an important step to ensure that the corporation maintains control over voting rights and decisions taken on behalf of its shareholders. When a shareholder grants a proxy to another person or entity, it authorizes the proxy holder to act on their behalf during specific meetings or voting matters. However, there may be instances where the corporation needs to revoke this proxy due to changes in circumstances, disagreements, or the need to ensure accurate representation of shareholder interests. The Revocation of Proxy — Corporate Resolution is a tool used by corporations in Arkansas to formally revoke the power of proxies and nullify any voting or decision-making authority given to the proxy holder. By filing this resolution, the corporation regains direct control over its voting process and can ensure that decisions are made in alignment with its best interests. It is important to note that there may be different types or variations of the Arkansas Revocation of Proxy — Corporate Resolution, depending on the specific needs and requirements of the corporation. These variations might include special conditions or limitations on the revocation, deadlines for submission, or specific authorization requirements. Additionally, corporations may choose to include alternative procedures for revoking a proxy in their bylaws or shareholder agreements. These procedures might outline the specific steps and documentation required to initiate a revocation process, ensuring that it is executed legally and effectively. Overall, the Arkansas Revocation of Proxy — Corporate Resolution is a vital legal tool for corporations in Arkansas to safeguard their voting rights and ensure proper representation of shareholder interests. By revoking proxies when necessary, corporations can maintain control over decision-making processes and protect their stakeholders.
