What is a proxy coupled with an interest?

In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder

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Revocable or Irrevocable Proxy

Dallas Texas Revocable or Irrevocable Proxy

Name: Dallas Texas Revocable or Irrevocable Proxy
Brand: US Legal Forms
Rating: 4.6 (285 reviews)

Category:

Corporations - Proxy

State:

Multi-State

County:

Dallas

Control #:

US-01581

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Instant download

Description

This is a proxy form, by which a shareholder grants their vote to a proxy who will cast the vote for them. Typically used in corporate shareholder meeting votes. Proxys solicit the votes before the meeting, and obtain the proxy forms.

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FAQ

Irrevocable Proxy: Voting Rights This Standard Document is a form of voting proxy agreement that is intended for use in connection with a pledge of limited liability company (LLC) interests given as collateral for a mezzanine loan.

Typically, most proxies are revocable, but some agreements may include specific clauses that require the proxy to be irrevocable for a specified period. The owner of the shares cannot revoke the irrevocable proxy until the expiry of an agreed-upon duration of time.

An irrevocable proxy is a type of proxy that cannot be revoked for a specific period of time. Though most proxies are revocable, some can be made irrevocable with the addition of a clause that explicitly states it to be so.

Power coupled with an interest means a power to do some act, delivered along with an interest in the subject matter of the power. A naked power exists when authority is given to a stranger to dispose of an interest, in which s/he had not before, nor has, by the instrument creating the power, any estate.

A proxy agreement is an agreement that allows a person to do legal tasks for another person. Proxy agreements are commonly seen in stock voting, in which a person gives another person permission to vote on their behalf. In many cases, the power of the stockholder to vote can be granted to a proxy.

In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder

Proxy forms must be in writing and they must be signed and dated by the record owners and their attorneys; otherwise, the vote is invalid. The term of the proxy is 10 months from the date of issuance. Shareholders or unit owners may use multiple proxies, but the latest one is the only valid one.

Related Definitions Agency coupled with an interest means an agency in which the agent has a legal interest in the subject matter. Such an agency is not terminated automatically, as are other agencies, by the death of the principal but continue in effect until the agent can realize upon its legal interest.

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Complete financial statements for the GDPC in conformity with generally accepted accounting principles (GAAP). We do not expect to pay cash dividends in the foreseeable future.Back-up volunteer willing to fill in when the block captain is unavailable. All such proxies and powers of attorney shall be considered coupled with an interest in the tendered Ordinary Shares and shall be irrevocable and are. 'Solo seniors' or 'elder orphans' are rising nationwide. But there are resources out there that can help them become financially sound. Our proxy statement will instruct you how to vote your shares. Conduct an advisory vote to approve the compensation of our named executive officers as disclosed in the proxy statement;. An irrevocable proxy becomes revocable when the interest which supports the proxy has terminated.

Dallas Texas Revocable or Irrevocable Proxy

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