District of Columbia Revocation of Proxy

• Category: Corporations - Proxy
• State: Multi-State
• Control #: US-03124BG
• Format: Word; Rich Text

Description

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. District of Columbia Revocation of Proxy refers to the legal process through which an individual cancels or revokes their previously granted proxy rights. A proxy is a document that authorizes another person (proxy holder) to act on behalf of the individual granting the proxy (principal) in specific matters or decision-making processes. In the District of Columbia, there are different types of Revocation of Proxy, each serving a unique purpose. These may include: 1. General Revocation of Proxy: This type of revocation applies to a broad range of matters, allowing the principal to globally and comprehensively revoke all previously granted proxy rights. 2. Limited Revocation of Proxy: Unlike a general revocation, this type of revocation selectively cancels specific proxy rights and limits the authority of the proxy holder to certain matters or decisions only. 3. Revocation of Proxy for Property Management: This particular revocation is used when a principal wants to terminate a proxy that previously granted another person the authority to manage their property or real estate holdings within the District of Columbia. 4. Revocation of Proxy for Business Affairs: In situations where a principal assigned a proxy to someone else to handle specific business matters or transactions, this type of revocation can be used to revoke those proxy rights, thereby terminating the proxy holder's authority in conducting business affairs on the principal's behalf. 5. Revocation of Proxy for Legal Proceedings: When a principal grants proxy rights to a representative or attorney to act on their behalf in legal proceedings, this revocation type allows the principal to cancel those rights, making it clear that the proxy holder no longer holds the authority to represent them in the specified legal matters. The District of Columbia Revocation of Proxy serves as a vital legal tool for principals, enabling them to modify or withdraw previously delegated proxy rights according to their changing circumstances or preferences. It is essential to consult an attorney or legal professional when preparing and executing a Revocation of Proxy document to ensure it complies with the District of Columbia's specific legal requirements and regulations.

District of Columbia Revocation of Proxy refers to the legal process through which an individual cancels or revokes their previously granted proxy rights. A proxy is a document that authorizes another person (proxy holder) to act on behalf of the individual granting the proxy (principal) in specific matters or decision-making processes. In the District of Columbia, there are different types of Revocation of Proxy, each serving a unique purpose. These may include: 1. General Revocation of Proxy: This type of revocation applies to a broad range of matters, allowing the principal to globally and comprehensively revoke all previously granted proxy rights. 2. Limited Revocation of Proxy: Unlike a general revocation, this type of revocation selectively cancels specific proxy rights and limits the authority of the proxy holder to certain matters or decisions only. 3. Revocation of Proxy for Property Management: This particular revocation is used when a principal wants to terminate a proxy that previously granted another person the authority to manage their property or real estate holdings within the District of Columbia. 4. Revocation of Proxy for Business Affairs: In situations where a principal assigned a proxy to someone else to handle specific business matters or transactions, this type of revocation can be used to revoke those proxy rights, thereby terminating the proxy holder's authority in conducting business affairs on the principal's behalf. 5. Revocation of Proxy for Legal Proceedings: When a principal grants proxy rights to a representative or attorney to act on their behalf in legal proceedings, this revocation type allows the principal to cancel those rights, making it clear that the proxy holder no longer holds the authority to represent them in the specified legal matters. The District of Columbia Revocation of Proxy serves as a vital legal tool for principals, enabling them to modify or withdraw previously delegated proxy rights according to their changing circumstances or preferences. It is essential to consult an attorney or legal professional when preparing and executing a Revocation of Proxy document to ensure it complies with the District of Columbia's specific legal requirements and regulations.