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.
A proxy can also be revoked unless the terms of the proxy say otherwise.
Delaware Proxy — Revocable is a legal document that grants an authorized individual, known as the "proxy," the power to act on behalf of another person or entity, commonly referred to as the "principal." This arrangement is prevalent in various business and legal settings, allowing principals to delegate decision-making authority to proxies. One key aspect of Delaware Proxy — Revocable is its revocability, which means the principal retains the right to revoke or terminate the proxy at any time. This provision ensures that the principal maintains control over their affairs and can withdraw the proxy's authority if circumstances change or trust is compromised. Delaware Proxy — Revocable provides flexibility, enabling principals to determine the scope and limits of the proxy's authority. This allows principals to tailor the proxy's responsibilities to suit the specific needs of their situation. The proxy may be authorized to act on various matters, including financial, legal, contractual, or administrative affairs. In Delaware, there are several types of Proxy — Revocable arrangements, each serving a unique purpose. These include: 1. Corporate Proxy — Revocable: In this scenario, shareholders of a Delaware corporation may grant proxies to designated individuals to participate and vote on their behalf at shareholder meetings. A corporate proxy has the authority to exercise voting rights and represent the shareholder's opinions. 2. Limited Proxy — Revocable: A limited proxy is issued for a particular purpose or event, allowing the proxy holder to act solely on behalf of the principal for that specific matter. The proxy's authority is limited to the specified scope, and the principal retains control over all other decisions. 3. Attorney Proxy — Revocable: In legal proceedings, individuals may appoint attorneys to act as their proxies. The attorney proxy has the authority to make legal decisions, represent the principal, and engage in legal actions on their behalf, subject to the principal's revocation rights. 4. Financial Proxy — Revocable: This type of proxy allows a designated individual, usually a trusted family member or financial advisor, to manage the principal's financial affairs, make investment decisions, execute transactions, and handle financial matters within predetermined limits. Overall, Delaware Proxy — Revocable grants the principal the ability to delegate decision-making authority to a proxy while maintaining the power to revoke or modify the proxy arrangement as needed. It offers flexibility and control, making it an invaluable tool in various legal and business contexts.
