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 Pennsylvania Revocation of Proxy — Corporate Resolutions is a legal document that enables a shareholder or proxy holder to terminate a previously granted proxy authorization. This document is particularly significant in corporate law as it allows shareholders to remote or exercise their voting rights in a corporate resolution by revoking a proxy authorization. When shareholders are unable to attend a meeting or wish to delegate their voting rights, they can appoint a proxy holder to act on their behalf. This proxy holder has the authority to cast votes on the shareholders' behalf and make decisions related to corporate resolutions during the meeting. However, circumstances may change, or shareholders may reconsider their initial decision, prompting them to revoke the proxy authorization. The Pennsylvania Revocation of Proxy — Corporate Resolutions must be drafted accurately, ensuring it complies with the state laws and regulations governing corporate resolutions. It typically consists of essential details, including the name and address of the shareholder granting the proxy, the date the original proxy was authorized, and the specifics of the corporate resolution for which the proxy was initially granted. There can be various types of Pennsylvania Revocation of Proxy — Corporate Resolutions, depending on the specific context. Some common types include: 1. General Revocation of Proxy — This type of revocation applies to all previously authorized proxies and effectively cancels all proxy authorizations made by the shareholder. 2. Limited Revocation of Proxy — In certain cases, a shareholder may only wish to revoke a particular proxy authorization related to a specific corporate resolution. This type allows for the revocation of a specific proxy while leaving other proxy authorizations intact. 3. Revocation with New Proxy Appointment — This type of revocation enables the shareholder to simultaneously revoke a previously granted proxy and appoint a new proxy holder. It encompasses revoking the existing proxy authorization and designating a new individual to act as the proxy holder for any future corporate resolutions. While these are some common types of Pennsylvania Revocation of Proxy — Corporate Resolutions, the specific circumstances and requirements may vary. It is crucial to consult a legal professional or refer to the state's statutes to determine the appropriate revocation method in each case.
