This form is a Voting Trust Agreement. The form provides that the shareholder has issued certficates for all common stock which will be placed in the care of the depositary in the name of the voting trustees. The form also provides that the agreement may be executed in several counterparts.
Michigan Voting Trust Agreement which provides that the shareholder has issued certificates in the care of the depositary in the name of the voting trustees
State:
Multi-State
Control #:
US-CC-4-298
Format:
Word;
Rich Text
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How to fill out Voting Trust Agreement Which Provides That The Shareholder Has Issued Certificates In The Care Of The Depositary In The Name Of The Voting Trustees?
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FAQ
While the proxy may be a temporary or one-time arrangement, often created for a specific vote, the voting trust is usually more permanent, intended to give a bloc of voters increased power as a group?or indeed, control of the company, which is not necessarily the case with proxy voting.
Voting trust certificates are "securities" as that term is defined by Section 2(1) of the Securities Act of 1933,37 and by many similar provisions under the various state securities laws.
Voting trusts are often formed by company directors, but sometimes a group of shareholders will form one to exercise some control over the corporation. It can also be used to resolve conflicts of interest, increase shareholders' voting power, or ward off a hostile takeover.
The trustee model of representation is a model of a representative democracy, frequently contrasted with the delegate model of representation. In this model, constituents elect their representatives as 'trustees' for their constituency.
A voting trust agreement also goes under the name, pooling agreement. Two or more shareholders transfer their shares to a trustee under a voting arrangement. The trustee will then vote for those shares as a group following the agreement's terms or the majority's will.
While the proxy may be a temporary or one-time arrangement, often created for a specific vote, the voting trust is usually more permanent, intended to give a bloc of voters increased power as a group?or indeed, control of the company, which is not necessarily the case with proxy voting.
A voting trust certificate is a document used to give temporary voting control over a corporation to one or several individuals. It is issued to a shareholder and represents the normal rights of any other stockholder, such as receiving quarterly dividends in exchange for their common shares.
A voting trust is a contract between shareholders in which their shares and voting rights are temporarily transferred to a trustee. A voting agreement is a contract in which shareholders agree to vote a certain way on specific issues without giving up their shares or voting rights.