Form with which a shareholder who has granted another the right to vote on his/her behalf may revoke the granting of that right.
A North Dakota Revocation of Proxy — Corporate Resolution is a legal document that allows a shareholder to cancel or revoke a previously granted proxy. A proxy is a written authorization that grants another person or entity the power to vote on behalf of the shareholder at a corporate meeting. In North Dakota, there are several types of revocation of proxy resolutions that can be used by corporations to revoke proxies. These include: 1. General Revocation of Proxy: This type of resolution allows a corporation to cancel all previously granted proxies, regardless of their purpose or terms. It provides a blanket revocation of all proxies and ensures that the shareholder's vote will not be cast by the proxy holder. 2. Specific Revocation of Proxy: This resolution is used to revoke a specific proxy authorization. It is commonly employed when a shareholder wants to revoke a proxy that was entrusted to a particular individual or entity. The resolution specifies the proxy's details, such as the proxy holder's name and the date of the proxy authorization. 3. Revocation of Proxy for a Specific Meeting: This type of resolution is tailored to revoke a proxy only for a specific meeting. It is often used when a shareholder wants to attend a meeting personally or has changed their voting intention since initially granting the proxy. The resolution specifies the meeting date and includes the details of the proxy that is being revoked. 4. Revocation of Proxy for a Specific Agenda Item: In some instances, a shareholder may wish to revoke a proxy only for a specific agenda item. This resolution allows the shareholder to specify the agenda item, ensuring that the proxy holder's vote will not be cast on that particular matter. Regardless of the type of resolution, a North Dakota Revocation of Proxy — Corporate Resolution generally includes several key components. These include the corporation's name, the shareholder's name, the proxy holder's name (if applicable), the date of the proxy authorization, and the specific details of the proxy being revoked. It is essential to carefully follow the guidelines and requirements set forth by North Dakota corporate law and the corporation's bylaws when preparing and executing such a resolution. By using a North Dakota Revocation of Proxy — Corporate Resolution, shareholders can exercise their right to cancel a proxy, thereby reclaiming their power to personally vote on corporate matters. This document provides a structured and legally valid way to revoke a proxy in compliance with North Dakota's corporate regulations.
