Connecticut Irrevocable Proxy

State:
Multi-State
Control #:
US-03122BG
Format:
Word; 
Rich Text
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Description

Proxy refers to someone who is authorized to serve in one's place at a meeting, especially with the right to right to vote on behalf of another. It may be written authority given to someone to act or vote in someone's place. A proxy is often used as a method for stockholders to cast votes at a meeting of shareholders, and by board members and convention delegates.


Proxy voting refers to the procedure of delegating the right to vote by one person to another. In proxy voting in the absence of a person his/her vote will be secured by some other person. A person so designated to cast the vote of another is called a "proxy" and the person who delegates the power is called a principal. A voter must have a trust in the proxy. Any person including the official of the chosen party can be appointed as the proxy.

How to fill out Irrevocable Proxy?

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FAQ

Irrevocable proxies are legal tools that allow one party to appoint another to vote on their behalf and cannot be revoked once granted. These are often utilized in corporate settings, ensuring that the selected proxy retains authority for the duration specified in the agreement. A Connecticut Irrevocable Proxy can simplify governance and decision-making processes, providing clarity and consistency in voting situations. For those seeking to establish or understand these proxies, our platform at USLegalForms offers reliable resources to guide you.

A reverse proxy sits between the user and the web server, forwarding client requests to the server. One example of this would be a typical web application that routes user requests to different servers based on load or content type. This setup can improve security and performance while also facilitating features like SSL termination. Understanding how a Connecticut Irrevocable Proxy functions can enhance your grasp of proxy types in server management.

Connecticut General Statutes 52 577a deals with the statute of limitations regarding actions against corporations and individuals. This law specifies the time frame within which a shareholder can bring a legal action related to corporate governance. For shareholders working with Connecticut irrevocable proxies, familiarity with this statute is crucial to safeguarding their rights in any disputes.

An example of an irrevocable proxy is a situation where a shareholder grants a trusted advisor the authority to vote on their behalf at a corporate meeting, with the condition that it remains in effect for a specified period. This type of proxy ensures that the voter's intentions are upheld without external influence. Such examples are key to understanding how Connecticut irrevocable proxies can be utilized effectively in corporate settings.

Yes, a proxy can be made irrevocable under specific conditions set forth in corporate governance laws. An irrevocable proxy allows the designated proxy holder to exercise the shareholder's voting rights without the risk of revocation. This feature is particularly beneficial in ensuring stability and consistency in decision-making among corporations using Connecticut irrevocable proxies.

Section 33 929 of the Connecticut General Statute pertains to the corporate bylaws and the management of corporate powers. It lays down essential provisions regarding the authority of corporate entities and their actions. In the context of Connecticut irrevocable proxies, this section adds clarity about how corporations can delegate power through proxies.

Section 33 749 of the Connecticut Business Corporation Act specifically addresses the regulation of proxies in business corporations. This section requires that proxies be executed in a prescribed manner to ensure their validity. Knowing this section helps shareholders effectively use Connecticut irrevocable proxies in a way that complies with state laws.

The Connecticut General Statutes provide protection against interference with corporate officers in the performance of their duties. This legal framework safeguards officers from unlawful actions that may disrupt corporate governance. Understanding these statutes is important for maintaining order within a corporation, especially when discussing matters like Connecticut irrevocable proxies.

Generally, an irrevocable proxy cannot be revoked until the specific conditions outlined in the proxy agreement are met. This means that once a shareholder grants an irrevocable proxy, they are bound by its terms for the duration specified. The nature of a Connecticut irrevocable proxy is to provide certainty in corporate decisions, which is why shareholders should consider this carefully before granting one.

Section 33 749 of the Connecticut General Statutes addresses the topic of proxies in the context of corporate governance. This section outlines the rules regarding the granting and exercising of proxies by shareholders. Understanding this statute is crucial for anyone dealing with Connecticut irrevocable proxies, as it sets the framework for how they operate and how shareholders can delegate their voting rights.

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Connecticut Irrevocable Proxy