Form with which a shareholder who has granted another the right to vote on his/her behalf may revoke the granting of that right.
South Dakota Revocation of Proxy — Corporate Resolutions refers to a legal document that enables an individual or an entity to withdraw their previously granted proxy rights to represent another individual or entity during corporate meetings or voting procedures. This revocation effectively cancels the authority given to someone else to act on behalf of the individual or entity, thereby providing a mechanism to retrieve control over decision-making processes within a corporation. A South Dakota Revocation of Proxy — Corporate Resolution can be necessary for various reasons, such as a change in circumstances, a shift in preferences or beliefs, or the desire to exercise direct control over decision-making. This document ensures that the person or entity who initially granted proxy rights can revoke them at any time, maintaining their autonomy and decision-making power within the corporation. There may be several types of South Dakota Revocation of Proxy — Corporate Resolutions, depending on the specific circumstances or the legal framework governing the corporation. Some possible variations may include: 1. Immediate Revocation: This type of revocation takes immediate effect upon the completion and submission of the revocation document. It eliminates the proxy rights instantaneously, ensuring that the designated individual or entity no longer holds authority to represent the granter. 2. Conditional Revocation: In certain cases, a South Dakota Revocation of Proxy may contain conditions that determine when the revocation takes effect. These conditions could be specific events, dates, or time periods, ensuring that the proxy rights are revoked only upon the occurrence of such conditions. 3. Partial Revocation: This type of revocation allows the granter to withdraw only a portion of the proxy rights previously given. It is useful in situations where the granter wants to retain some level of representation but wishes to limit the authority of the proxy holder. 4. Temporary Revocation: This revocation is effective for a limited period, after which the proxy rights are automatically reinstated. Temporary revocation can be suitable for situations where the granter's circumstances may be temporary or subject to change. Each South Dakota Revocation of Proxy — Corporate Resolution should include relevant information such as the name of the corporation, the identification of the granter and the proxy holder, a clear statement of intent to revoke the proxy rights, and the effective date of the revocation. It is crucial to ensure that the South Dakota Revocation of Proxy — Corporate Resolution complies with all the applicable laws and regulations governing the corporation and the state of South Dakota. It is advisable to consult legal counsel or utilize online legal services familiar with South Dakota corporate laws to draft and execute an accurate and legally binding revocation document.
