Revocation of Proxy
What is this form?
The Revocation of Proxy is a legal document that allows a shareholder to cancel any previously granted proxy votes. This form is essential for individuals who want to withdraw the authority they have given to another person to vote on their behalf during stockholders' meetings. Unlike similar forms, this document specifically focuses on revoking existing proxies rather than granting new ones, ensuring that the principal retains control over their voting rights.
Main sections of this form
- Name of Shareholder: The individual revoking the proxy must print their name.
- Cancellation Statement: A clear declaration revoking all prior proxies.
- Name of Corporation: The corporation for which the proxy was originally granted must be specified.
- Signature of Shareholder: The document must be signed by the shareholder to be valid.
- Date: The date of revocation is included for record-keeping purposes.
Common use cases
This form should be used when a shareholder decides to revoke the authority they previously granted to a proxy. Common situations for using this form include a change in trust regarding the appointed proxy, a desire to appoint a new proxy, or if the circumstances surrounding the vote have changed. It ensures that only the intended individual can vote on behalf of the shareholder.
Who needs this form
- Shareholders of a corporation who have appointed a proxy to vote on their behalf.
- Individuals who wish to regain full control over their voting rights.
- Anyone looking to maintain accurate records regarding proxy appointments and revocations.
Instructions for completing this form
- Identify the shareholder: Print the full name of the shareholder at the designated space.
- State the revocation: Clearly indicate that all previously granted proxies are revoked.
- Specify the corporation: Fill in the name of the corporation associated with the proxy.
- Sign the document: The shareholder must sign the form to validate the revocation.
- Include the date: Write the date on which the revocation is being made.
Does this form need to be notarized?
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to sign the document, which makes it invalid.
- Not including the specific name of the corporation, leading to confusion.
- Using incorrect or unclear language when stating the revocation.
Advantages of online completion
- Convenience: Download the form quickly and fill it out at your own pace.
- Editability: Easily make changes as necessary before finalizing your revocation.
- Reliability: Forms are drafted by licensed attorneys, providing confidence in their legality.
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FAQ
Voters can revoke a proxy by issuing a new one or by providing written notice to the association secretary. The owner can also revoke a proxy by attending a meeting in person and casting their own ballot. In this case, the voter must attend the meeting AND vote at the meeting in order for their vote to count.
A proxy is valid for up to 90 days after the date of the first meeting for which it was given. Each proxy is revocable at any time at the pleasure of the unit owner executing it.
Most boards require a quorum to conduct voting and proxies can be useful in establishing a quorum.An organization's bylaws may allow for a member's proxy to be counted only for the purpose of establishing a quorum, but not as a vote for or against an issue.
A member of a company is entitled to appoint more than one proxy to exercise all or any of his rights to attend and to speak and vote at a meeting of the company, provided that each proxy is appointed to exercise the rights attached to a different share or shares held by the member.
Proxy limits The limits held by one person are: one proxy vote only for schemes with 20 lots or less, or. in schemes with more than 20 lots, a number that is equal to no more than 5 percent of the total number of lots.
There seems to be some confusion of late as to whether a person can hold more than two proxies or not. The simple answer is 'yes': a person can currently hold more than two proxies there is no limit at the moment.
The power of attorney revocation form allows a person to cancel a previous appointment that was made. The form, once signed by the principal, cancels and immediately terminates the rights of the agents listed in the original power of attorney document.
A proxy may refer to a person who is authorized to act for another or it may designate the function or authority of serving in another's stead. In the latter sense, it generally is preceded by the word by (vote by proxy).
