New York 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. New York Revocation of Proxy is a legal document that allows an individual (also known as a principal or shareholder) to cancel or revoke a previously granted proxy. A proxy is a written authorization that permits another person (known as the proxy holder or agent) to act on behalf of the principal in certain specified matters, such as voting at a shareholders' meeting. The New York Revocation of Proxy is used when the principal wishes to terminate the authority of the proxy holder, preventing them from exercising any power or making decisions on behalf of the principal any longer. This revocation is crucial when the principal wants to regain direct control over their voting rights or decision-making powers. There are two common types of New York Revocation of Proxy: 1. General Revocation of Proxy: A general revocation of proxy applies to all proxies previously granted by the principal. It nullifies any previously given authority to act on behalf of the principal in any and all matters specified in the proxy document. 2. Specific Revocation of Proxy: A specific revocation of proxy targets a particular proxy or specific group of proxies granted by the principal. Unlike the general revocation, the specific revocation only cancels the authority granted to the proxy holder in relation to the specified proxies. This allows the principal to retain the authority granted to other proxy holders under separate documents. The New York Revocation of Proxy includes essential information such as the principal's name, the proxy holder's name, the date of the proxy document being revoked, and the specific or general nature of the revocation. It is crucial to sign and notarize the revocation document to ensure its legal validity. Keywords: New York, Revocation of Proxy, legal document, principal, shareholder, proxy holder, authorization, voting rights, decision-making powers, general revocation, specific revocation, voting at a shareholders' meeting, nullify authority, regain control, legal validity.

New York Revocation of Proxy is a legal document that allows an individual (also known as a principal or shareholder) to cancel or revoke a previously granted proxy. A proxy is a written authorization that permits another person (known as the proxy holder or agent) to act on behalf of the principal in certain specified matters, such as voting at a shareholders' meeting. The New York Revocation of Proxy is used when the principal wishes to terminate the authority of the proxy holder, preventing them from exercising any power or making decisions on behalf of the principal any longer. This revocation is crucial when the principal wants to regain direct control over their voting rights or decision-making powers. There are two common types of New York Revocation of Proxy: 1. General Revocation of Proxy: A general revocation of proxy applies to all proxies previously granted by the principal. It nullifies any previously given authority to act on behalf of the principal in any and all matters specified in the proxy document. 2. Specific Revocation of Proxy: A specific revocation of proxy targets a particular proxy or specific group of proxies granted by the principal. Unlike the general revocation, the specific revocation only cancels the authority granted to the proxy holder in relation to the specified proxies. This allows the principal to retain the authority granted to other proxy holders under separate documents. The New York Revocation of Proxy includes essential information such as the principal's name, the proxy holder's name, the date of the proxy document being revoked, and the specific or general nature of the revocation. It is crucial to sign and notarize the revocation document to ensure its legal validity. Keywords: New York, Revocation of Proxy, legal document, principal, shareholder, proxy holder, authorization, voting rights, decision-making powers, general revocation, specific revocation, voting at a shareholders' meeting, nullify authority, regain control, legal validity.