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.
Connecticut Irrevocable Proxy is a legally binding document that grants an appointed individual, referred to as a proxy, the authority to make important decisions on behalf of another person, known as the principal. This proxy is irrevocable, meaning it cannot be canceled or revoked once it is in effect, ensuring the continuity of decision-making even in the principal's absence or incapacity. This proxy document is recognized and governed by Connecticut state law, specifically Connecticut General Statutes § 1-17a. It outlines the specific powers granted to the proxy and the limitations they must adhere to. The Connecticut Irrevocable Proxy is commonly used in situations where the principal wishes to ensure their preferences are upheld in important matters, such as healthcare decisions, property management, or financial affairs. There are different types of Connecticut Irrevocable Proxy, each designed to cater to specific needs and circumstances. Some notable types include: 1. Healthcare Irrevocable Proxy: This type of proxy grants the proxy holder the authority to make medical decisions on behalf of the principal, solely focused on healthcare matters. It allows the proxy to consult with healthcare professionals, access medical records, and ensure the principal's wishes regarding treatment options, life support, or end-of-life care are followed. 2. Financial Irrevocable Proxy: The financial proxy empowers the proxy holder to manage the principal's financial affairs, including assets, investments, and financial decision-making. This type of proxy can handle tasks such as paying bills, managing bank accounts, selling property, or making investment decisions. 3. Property Management Irrevocable Proxy: This proxy type focuses exclusively on property-related matters. It authorizes the proxy holder to handle property-related responsibilities on behalf of the principal, such as renting, leasing, selling, or maintaining real estate assets. 4. Legal Affairs Proxy: This proxy variant enables the proxy holder to make legal decisions and act as a representative in legal matters, including court appearances, signing legal documents, or engaging in legal proceedings. Connecticut Irrevocable Proxies are powerful legal tools that require careful consideration and professional guidance. They offer peace of mind to principals by ensuring their wishes are carried out even if they are unable to make decisions themselves. It is recommended to consult an attorney well-versed in Connecticut state law to draft and execute the most suitable Irrevocable Proxy for individual circumstances.
