Form with which a shareholder who has granted another the right to vote on his/her behalf may revoke the granting of that right.
The Kentucky Revocation of Proxy — Corporate Resolutions refers to a legal document that enables a shareholder of a corporation to revoke a previously granted proxy. A proxy is a written authorization granted by a shareholder to another person or entity, allowing them to vote on the shareholder's behalf during corporate meetings or other decision-making processes. In Kentucky, the revocation of a proxy can be done through this specific document, which outlines the necessary information and procedures to cancel the authority previously granted to the proxy holder. This is important as it allows shareholders to maintain control and exercise their voting rights directly, ensuring that their interests are properly represented in corporate matters. The Kentucky Revocation of Proxy — Corporate Resolutions document typically includes the following information: 1. Parties involved: The document identifies the shareholder (granter) who initially assigned the proxy and the proxy holder (grantee) who was given the authority to vote on their behalf. 2. Effective date: The document includes the date on which the original proxy was granted. 3. Details of revocation: The specific proxy being revoked, including any relevant details such as the date, description, and purpose of the meeting or resolution that the proxy was intended for. 4. Shareholder signature: The document requires the shareholder's signature, indicating their unequivocal intent to revoke the proxy and resume direct control over their voting rights. 5. Notarization: Depending on the requirements of the jurisdiction, the document may need to be notarized to ensure its legality and authenticity. In addition to the general Kentucky Revocation of Proxy — Corporate Resolutions, there may also be variations or specific types of revocation documents. These can include: 1. Limited Revocation of Proxy: This document allows a shareholder to revoke only a specific aspect or limited portion of the proxy granted, rather than the entire authority. 2. Complete Revocation of Proxy: This document revokes the entire proxy, terminating all previously granted voting authority. 3. Revocation of Proxy with New Appointment: In some cases, a shareholder may wish to revoke an existing proxy and simultaneously authorize a new individual or entity to act as their proxy holder. This document fulfills both purposes by revoking the old proxy while appointing a new one. In conclusion, the Kentucky Revocation of Proxy — Corporate Resolutions is a legally binding document that permits a shareholder to withdraw or cancel a previously granted proxy in order to reclaim their direct control over voting rights in corporate matters. It is crucial for shareholders to carefully follow the guidelines provided by the document to ensure their intentions are properly communicated and legally sound.
