Vermont Agreement and Irrevocable Proxy
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How to fill out Agreement And Irrevocable Proxy?
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FAQ
The term 'coupled with interest' which makes a power of attorney irrevocable refers to the interest of the agent in the property forming subject matter of the agency anterior to such agency being created.
The irrevocable proxy is an enforceable power given by an owner to. exercise his voting rights independently of his future consent. He may. accomplish the same result through a voting or pooling contract, or by. means of a voting trust.
Typically, most proxies are revocable, but some agreements may include specific clauses that require the proxy to be irrevocable for a specified period.
In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder ...
(b) No proxy shall be valid after the expiration of 11 months from the date thereof unless otherwise provided in the proxy, except that the maximum term of any proxy shall be three years from the date of execution.
In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder ...
As mentioned above, ?coupled with an interest? describes the nature of an agent's power or authority in a principal-agent relationship.