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A member of a company is entitled to appoint another person as his proxy to exercise all or any of his rights to attend, speak and vote at a meeting of the company.
A proxy is an agent legally authorized to act on behalf of another party or a format that allows an investor to vote without being physically present at the meeting.
Proxy, a term denoting either a person who is authorized to stand in place of another or the legal instrument by which the authority is conferred. It is a contracted form of the Middle English word procuracie. Proxies are now principally employed for certain voting purposes.
Britannica Dictionary definition of PROXY. 1. count : a person who is given the power or authority to do something (such as to vote) for someone else. Since I wouldn't be available to vote, I nominated him to act as my proxy.
Definition. A person designated by another to attend a shareholders' meeting and vote on their behalf.
Appointment of a proxy Under Section 105(1) of the Companies Act, 2013 (hereinafter, CA), any member who is entitled to attend and vote in a company meeting can appoint a proxy. However, a proxy cannot be appointed by a member of a company not having a share capital unless the Articles provide for it.
A proxy fight refers to the act of a group of shareholders joining forces and attempting to gather enough shareholder proxy votes to win a corporate vote. The voting bids in a proxy vote could include replacing corporate management or the board of directors.
Key Takeaways. A proxy is an agent legally authorized to act on behalf of another party. The proxy may also allow an investor to vote without being physically present at the annual shareholder's meeting.
Definition. A person designated by another to attend a shareholders' meeting and vote on their behalf. A proxy can be revoked at any time by the grantor, unless it has been coupled with an interest.
A proxy is a person who is designated by a member of a company to attend a general meeting and vote in place of that member.