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.
Guam Irrevocable Proxy: A Comprehensive Overview A Guam Irrevocable Proxy is a legal instrument used in Guam to grant an individual or an entity the authority to act on behalf of someone else for a specific period or a particular purpose. This type of proxy provides the designated person or organization with legally binding decision-making power and control over specified matters. Keywords: Guam, Irrevocable Proxy, legal instrument, authority, act on behalf, decision-making power, control, specified matters. Types of Guam Irrevocable Proxy: 1. General Irrevocable Proxy: This type of proxy grants the designated individual or entity the authority to act on behalf of the principal on various matters without any limitations. The proxy can make decisions and represent the principal in any situation specified in the proxy document. Keywords: General Irrevocable Proxy, act on behalf, decisions, represent, principal, limitations. 2. Limited Irrevocable Proxy: Unlike the general proxy, this type of irrevocable proxy assigns decision-making power on specific matters or for a limited period. The proxy is granted the authority to act only within the specified parameters and cannot make decisions outside the predetermined scope. Keywords: Limited Irrevocable Proxy, specific matters, limited period, decision-making power, specified parameters, predetermined scope. 3. Financial Irrevocable Proxy: This type of proxy is specifically focused on granting authority related to financial matters. The designated proxy holder can make decisions regarding the principal's financial investments, property management, banking transactions, and other monetary affairs. Keywords: Financial Irrevocable Proxy, financial matters, decisions, investments, property management, banking transactions, monetary affairs. 4. Medical Irrevocable Proxy: A medical irrevocable proxy empowers the designated proxy holder to make healthcare decisions on behalf of the principal. In situations where the principal is unable to make medical choices due to incapacity or absence, the proxy holder acts as an authorized representative to ensure the principal's medical preferences are followed. Keywords: Medical Irrevocable Proxy, healthcare decisions, authorized representative, medical choices, incapacity, absence, medical preferences. Note: It is essential to consult with a legal professional to understand the specific regulations and requirements concerning Guam Irrevocable Proxy. The information provided here serves as a general guide and should not substitute professional legal advice.
