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.
A proxy can also be revoked unless the terms of the proxy say otherwise.
Wyoming Proxy — Revocable is a legal instrument used to grant authority to an individual or entity (the proxy) to make decisions on behalf of another person (the principal). This arrangement allows the appointed proxy to act as an agent, representing the principal's interests in various matters. The distinguishing feature of a Wyoming Proxy — Revocable is that it can be terminated or revoked by the principal at any time, giving them full control over the proxy's actions. There are two main types or categories of Wyoming Proxy — Revocable: 1. GeneraProox— - Revocable: This type of proxy grants the proxy holder broad authority to act and make decisions on behalf of the principal. It can cover a wide range of matters, such as business transactions, financial decisions, and legal affairs. The principal has the power to modify or terminate the proxy agreement at any time, providing them with flexibility and control. 2. Specific Proxy — Revocable: Unlike a general proxy, a specific proxy focuses on a particular area or specific matters. It limits the authority of the proxy holder to act only within the specified scope. For example, the principal may appoint a proxy to vote on their behalf during a specific meeting, represent them in a legal proceeding, or make decisions related to a particular investment. The principal retains the right to revoke or modify the proxy as needed, ensuring their preferences are upheld. Wyoming Proxy — Revocable agreements offer several benefits. Firstly, they provide a level of flexibility to principals who may need temporary representation or who wish to delegate decision-making powers but maintain ultimate control. Secondly, they offer a layer of protection as the principal has the ability to revoke the proxy if they feel it is no longer serving their best interests. In summary, a Wyoming Proxy — Revocable is a legal arrangement granting authority to a proxy to act on behalf of the principal, which can be terminated or modified at any time. It comes in two main types: General Proxy — Revocable, allowing broad decision-making authority, and Specific Proxy — Revocable, conferring limited authority for specific matters. These proxies provide flexibility and control to the principal and ensure that their preferences are upheld.
