Arizona Voting Trust Agreement
Description
How to fill out Voting Trust Agreement?
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FAQ
The Voting Trust shall either be treated as a grantor trust under subpart E, part I of subchapter J of the Internal Revenue Code of 1986, as amended, or shall be treated as merely a custodial arrangement that is not an entity recognized for U.S. federal tax purposes, and the provisions of this Agreement shall be
A trust does not have legal personality and can therefore not vote as a shareholder, because it is only an accumulation of assets.
A voting trust certificate is a document issued by a limited-life trust of a corporation established to give temporary voting control of a corporation to one or a few individuals.
A voting trust is a contract between shareholders in which their shares and voting rights are temporarily transferred to a trustee. A voting agreement is a contract in which shareholders agree to vote a certain way on specific issues without giving up their shares or voting rights.
A voting trust is a legal trust created to combine the voting power of shareholders by temporarily transferring their shares to the trustee. In exchange for their shares, shareholders receive certificates indicating they are beneficiaries of the trust.
A voting trust certificate is a document used to give temporary voting control over a corporation to one or several individuals. It is issued to a shareholder and represents the normal rights of any other stockholder, such as receiving quarterly dividends in exchange for their common shares.
While the proxy may be a temporary or one-time arrangement, often created for a specific vote, the voting trust is usually more permanent, intended to give a bloc of voters increased power as a groupor indeed, control of the company, which is not necessarily the case with proxy voting.
2. Term and Termination. This Agreement may be terminated at any time by the affirmative vote of Beneficiaries holding at least a majority of the voting power of the outstanding Trust Interests.
Voting agreements are commonly used in business combination transactions to ensure the buyer that significant equity holders will vote to approve the subject transaction. A voting agreement may also include an irrevocable proxy.
A voting trust can be revocable or irrevocable; typically they are irrevocable for a period of years, or for life of the key person, or until the company is sold.
