Oakland Michigan Revocation of Proxy

• Category: Corporations - Proxy
• State: Multi-State
• County: Oakland
• 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.

Oakland Michigan Revocation of Proxy is a legal document used to cancel or withdraw a proxy previously given by a person to another individual or entity. This document enables the individual, known as the principal, to terminate or revoke the authority granted to the proxy holder, typically known as the agent or attorney-in-fact. Oakland County, Michigan, offers various types of Revocation of Proxy to cater to different situations. These include: 1. General Revocation of Proxy: This type of revocation is used when the principal wants to revoke all the powers and authority granted to the agent, irrespective of specific transactions or events. 2. Limited Revocation of Proxy: This revocation is specific to certain powers or authority granted in the proxy. It allows the principal to cancel only certain powers while leaving others intact. 3. Durable Revocation of Proxy: This type of revocation remains in effect even if the principal becomes incapacitated or mentally unable to make decisions. It ensures the agent's authority is terminated regardless of the principal's condition. 4. Specific Event Revocation of Proxy: This revocation occurs when the proxy's authority is terminated upon the occurrence of a particular event. For instance, the principal may revoke the proxy if the specified transaction or event does not take place as anticipated. When completing an Oakland Michigan Revocation of Proxy, the document should include essential details such as the principal's name, the agent's name, the date of the original proxy, a clear statement of revocation, and the principal's signature. It is crucial to ensure the revocation is properly drafted, signed, and notarized to make it legally binding and enforceable. Keywords: Oakland Michigan, Revocation of Proxy, legal document, cancel, withdraw, proxy, principal, agent, attorney-in-fact, powers, authority, Oakland County, General Revocation, Limited Revocation, Durable Revocation, Specific Event Revocation, incapacitated, mentally unable, specific transaction, specific event, completion, details, name, date, statement, signature, notarized, legally binding, enforceable.