Wisconsin 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. Wisconsin Revocation of Proxy is a legally binding document used to cancel or terminate a previously granted proxy. A proxy is a legal authorization allowing a person (known as the principal) to appoint someone else (known as the agent or proxy) to make decisions or act on their behalf. The Wisconsin Revocation of Proxy form ensures that the principal can withdraw the authority granted in the proxy at any time they wish. There are several types of Wisconsin Revocation of Proxy, each serving a specific purpose: 1. General Revocation of Proxy: This type of revocation is used when the principal wants to cancel the proxy in its entirety. It effectively terminates the entire proxy agreement and revokes all powers and authorities granted to the agent. 2. Limited Revocation of Proxy: Unlike a general revocation, a limited revocation only cancels or withdraws specific powers or authorities previously granted in the proxy. The principal may choose to remove certain decision-making abilities while leaving others intact. 3. Conditional Revocation of Proxy: In some situations, a proxy may be granted with certain conditions or limitations. Conditional revocation allows the principal to revoke the proxy if specific circumstances or events occur. This type of revocation is often used to ensure that the proxy authorization remains valid only under specific conditions. 4. Automatic Revocation of Proxy: In certain cases outlined by Wisconsin state laws, a proxy can be automatically revoked without the principal taking any explicit action. These instances may include the death of the principal, the principal becoming incapacitated, or if a specific event stated in the proxy document occurs. By executing a Wisconsin Revocation of Proxy, the principal effectively cancels the authority previously granted to their agent, ensuring that any decisions made by the agent on their behalf are no longer valid. It is important to note that once this revocation is completed and delivered to the agent, it becomes legally effective, and the agent must cease acting on behalf of the principal immediately.

Wisconsin Revocation of Proxy is a legally binding document used to cancel or terminate a previously granted proxy. A proxy is a legal authorization allowing a person (known as the principal) to appoint someone else (known as the agent or proxy) to make decisions or act on their behalf. The Wisconsin Revocation of Proxy form ensures that the principal can withdraw the authority granted in the proxy at any time they wish. There are several types of Wisconsin Revocation of Proxy, each serving a specific purpose: 1. General Revocation of Proxy: This type of revocation is used when the principal wants to cancel the proxy in its entirety. It effectively terminates the entire proxy agreement and revokes all powers and authorities granted to the agent. 2. Limited Revocation of Proxy: Unlike a general revocation, a limited revocation only cancels or withdraws specific powers or authorities previously granted in the proxy. The principal may choose to remove certain decision-making abilities while leaving others intact. 3. Conditional Revocation of Proxy: In some situations, a proxy may be granted with certain conditions or limitations. Conditional revocation allows the principal to revoke the proxy if specific circumstances or events occur. This type of revocation is often used to ensure that the proxy authorization remains valid only under specific conditions. 4. Automatic Revocation of Proxy: In certain cases outlined by Wisconsin state laws, a proxy can be automatically revoked without the principal taking any explicit action. These instances may include the death of the principal, the principal becoming incapacitated, or if a specific event stated in the proxy document occurs. By executing a Wisconsin Revocation of Proxy, the principal effectively cancels the authority previously granted to their agent, ensuring that any decisions made by the agent on their behalf are no longer valid. It is important to note that once this revocation is completed and delivered to the agent, it becomes legally effective, and the agent must cease acting on behalf of the principal immediately.