The Indiana Agreement and Irrevocable Proxy is a legal document commonly used in the state of Indiana to establish a relationship between two parties, particularly in cases where one party grants proxy rights to another. This agreement sets forth the terms and conditions regarding the use of the proxy and outlines the responsibilities and obligations of both parties. One type of Indiana Agreement and Irrevocable Proxy is the General Irrevocable Proxy. This type of agreement grants the proxy holder the authority to act on behalf of the granter in various matters, such as voting on corporate matters, making financial decisions, or representing the granter in legal proceedings. Another type of Indiana Agreement and Irrevocable Proxy is the Specific Irrevocable Proxy. This agreement is more targeted and limited in scope compared to the general proxy. It specifies the exact powers and limitations of the proxy holder and restricts the proxy usage to a specific event or action. For example, it may be used to grant someone the authority to vote on behalf of the granter in a specific shareholders' meeting. The Indiana Agreement and Irrevocable Proxy is a legally binding document that requires the involvement of both parties, often the granter and the proxy holder. It is crucial to seek legal advice before drafting or entering into such an agreement to ensure its validity and compliance with state laws. Important keywords related to the Indiana Agreement and Irrevocable Proxy include legal document, proxy rights, terms and conditions, responsibilities, obligations, granter, proxy holder, voting, corporate matters, financial decisions, legal proceedings, general irrevocable proxy, specific irrevocable proxy, powers, limitations, shareholders' meeting, legally binding, compliance, and state laws.
Indiana Agreement and Irrevocable Proxy
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How to fill out Indiana Agreement And Irrevocable Proxy?
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A person can become proxy for maximum 50 members and their holding is in aggregate of 10% of Share Capital carrying voting rights. In case of Section 8 company, only the member of such section 8 company is entitled to become proxy for another member.
The irrevocable proxy is an enforceable power given by an owner to. exercise his voting rights independently of his future consent. He may. accomplish the same result through a voting or pooling contract, or by. means of a voting trust.
The owner of the shares cannot revoke the irrevocable proxy until the expiry of an agreed-upon duration of time.
Proxies automatically expire after eleven (11) months unless stated otherwise in the proxy, but in no event may a proxy have a term of more than three (3) years. (Corp. Code § 7613(b).) Proxies remain in full force and effect until revoked by the person executing the proxy prior to the vote.
The irrevocable proxy is an enforceable power given by an owner to. exercise his voting rights independently of his future consent. He may. accomplish the same result through a voting or pooling contract, or by. means of a voting trust.
(b) No proxy shall be valid after the expiration of 11 months from the date thereof unless otherwise provided in the proxy, except that the maximum term of any proxy shall be three years from the date of execution.
(f) A proxy may be revoked, notwithstanding a provision making it irrevocable, by a transferee of shares without knowledge of the existence of the provision unless the existence of the proxy and its irrevocability appears, in the case of certificated securities, on the certificate representing such shares, or in the ...
In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder ...