Proxy refers to someone who is authorized to serve in one's place at a meeting, especially with the right to right to vote on behalf of another. It may be written authority given to someone to act or vote in someone's place. A proxy is often used as a method for stockholders to cast votes at a meeting of shareholders, and by board members and convention delegates.
Proxy voting refers to the procedure of delegating the right to vote by one person to another. In proxy voting in the absence of a person his/her vote will be secured by some other person. A person so designated to cast the vote of another is called a "proxy" and the person who delegates the power is called a principal. A voter must have a trust in the proxy. Any person including the official of the chosen party can be appointed as the proxy.
Rhode Island Irrevocable Proxy is a legal document that grants authority to a named person or entity (proxy) to make decisions on behalf of the individual creating the proxy (granter) even when the granter is unable to do so. This proxy is "irrevocable," meaning it cannot be revoked or changed once created. An Irrevocable Proxy in Rhode Island is typically used for various purposes, such as healthcare decisions, financial matters, or business transactions. It is often employed in situations where the granter wants to ensure that their wishes are followed, even if they become mentally or physically incapacitated. One type of Rhode Island Irrevocable Proxy is the Healthcare Proxy, also known as the Medical Power of Attorney. This proxy allows the granter to designate a trusted person to make medical decisions on their behalf if they are incapacitated or unable to communicate their preferences. The healthcare proxy can include instructions regarding specific medical treatments or end-of-life decisions. Another type of Irrevocable Proxy in Rhode Island is the Financial Power of Attorney. This proxy grants authority to the designated proxy to manage the granter's financial affairs, including banking transactions, real estate transactions, bill payments, and investments. This proxy becomes effective immediately upon signing or can be set to take effect only when the granter is incapacitated. Furthermore, there is also a Business Proxy, which is an Irrevocable Proxy used in commercial settings. It allows the granter to appoint a proxy to act on their behalf in specific business matters, such as attending meetings, signing contracts, making financial decisions, or voting on behalf of the granter. The business proxy is commonly used by company owners, shareholders, or directors. It is important to note that an Irrevocable Proxy in Rhode Island must comply with the state's legal requirements. This includes having the document properly witnessed, signed, and notarized. Consulting with an attorney familiar with Rhode Island laws is recommended to ensure the proxy is legally valid and meets the granter's specific needs. In summary, Rhode Island Irrevocable Proxy is a legal document that grants decision-making authority to a proxy in various areas like healthcare, finances, or business matters. Healthcare Proxy, Financial Power of Attorney, and Business Proxy are some specific types of irrevocable proxies used in Rhode Island.
