A proxy can also be revoked unless the terms of the proxy say otherwise.
Maine Revocation of Proxy is a legal document that allows an individual to revoke or cancel a previously authorized proxy. A proxy is a person or entity appointed to represent another person in making decisions or voting on their behalf. It is commonly used in corporate settings during shareholder meetings or for voting on specific matters. Revocation of Proxy in Maine is a crucial mechanism that enables an individual to withdraw the authority granted to their proxy, effectively invalidating any previous instructions or decisions made on their behalf. This revocation can be done at any time before the scheduled meeting or vote takes place. There are several types of Maine Revocation of Proxy, including: 1. General Revocation of Proxy: This type of revocation cancels all previously given proxy authority and any instructions associated with it. It revokes the proxy holder's ability to vote or make any decisions on the granter's behalf. 2. Specific Revocation of Proxy: Unlike a general revocation, a specific revocation only cancels a particular proxy or set of instructions. This allows the granter to revoke the proxy for a specific vote or decision while still retaining the proxy holder's authority for other matters. 3. Written Revocation of Proxy: In Maine, a written revocation of proxy is usually required to provide legal evidence of the revocation. It must include specific details, such as the date, the granter's name, and the name of the proxy holder being revoked, to ensure its validity. 4. Majority Revocation of Proxy: This type of revocation occurs when a majority of shareholders or members collectively revoke their proxies for a given vote or decision. It often happens when there is a significant change in circumstances or new information that prompts a significant number of shareholders to revoke their proxies. It is crucial to follow the correct procedures and guidelines set forth by relevant laws and regulations in Maine when revoking a proxy. Failure to do so may result in the revocation being deemed invalid, and the proxy holder's authority remaining intact. Consulting with an attorney or legal expert is advisable to ensure that the revocation is executed correctly and legally.
