King Washington Voting Trust Agreement which provides that the shareholder has issued certificates in the care of the depositary in the name of the voting trustees

• Category: Corporations - Public - Sale or Purchase of Capital Stock
• State: Multi-State
• County: King
• Control #: US-CC-4-298
• Format: Word; Rich Text

Description

This form is a Voting Trust Agreement. The form provides that the shareholder has issued certficates for all common stock which will be placed in the care of the depositary in the name of the voting trustees. The form also provides that the agreement may be executed in several counterparts. The King Washington Voting Trust Agreement is a legally binding document that allows a shareholder to issue certificates to a trusted third party known as the voting trustee. This arrangement ensures that the voting rights associated with the shares are effectively managed and controlled by the trustee. By issuing the certificates in the care of the depository, the shareholder transfers the responsibility and authority of voting on behalf of the shares to the trustees. The certificates are held by the depository, who acts as a custodian, while the trustees exercise the voting rights according to the instructions of the shareholder. This type of agreement is commonly used in situations where a group of shareholders collectively want to consolidate their voting power or maintain the stability and continuity of decision-making within a company. It ensures that all shareholders' interests are represented and eliminates the need for individual shareholders to be physically present for every vote. Different variations or types of King Washington Voting Trust Agreements may exist depending on the specific terms and conditions agreed upon by the shareholder and the voting trustees. Some possible variations are: 1. Short-term Voting Trust Agreement: This type of agreement might be initiated for a specific period, such as during an important corporate event or shareholders' meeting. It is designed to temporarily consolidate voting power and is terminated once the particular event or meeting objectives have been achieved. 2. Long-term Voting Trust Agreement: In contrast to the short-term agreement, the long-term agreement is established for an extended duration. This type of arrangement could be useful when a group of shareholders wishes to maintain control over voting rights for an extended period, such as during succession planning or for strategic decision-making. 3. Revocable Voting Trust Agreement: This type of agreement allows the shareholder to revoke or modify the trust arrangement at any point in time. It provides flexibility to adapt to changing circumstances or if the shareholder wishes to regain direct control over the voting rights associated with their shares. 4. Irrevocable Voting Trust Agreement: Unlike the revocable agreement, the irrevocable voting trust agreement does not allow the shareholder to revoke or modify the terms once it has been established. This type of agreement is typically used in situations where the shareholder intends to relinquish control over the voting rights associated with their shares permanently. It is important to note that the specific details and variations of King Washington Voting Trust Agreements may differ based on the jurisdiction and the preferences of the involved parties. Consulting with legal professionals and understanding the specific terms outlined in each agreement is essential for shareholders considering such arrangements.

The King Washington Voting Trust Agreement is a legally binding document that allows a shareholder to issue certificates to a trusted third party known as the voting trustee. This arrangement ensures that the voting rights associated with the shares are effectively managed and controlled by the trustee. By issuing the certificates in the care of the depository, the shareholder transfers the responsibility and authority of voting on behalf of the shares to the trustees. The certificates are held by the depository, who acts as a custodian, while the trustees exercise the voting rights according to the instructions of the shareholder. This type of agreement is commonly used in situations where a group of shareholders collectively want to consolidate their voting power or maintain the stability and continuity of decision-making within a company. It ensures that all shareholders' interests are represented and eliminates the need for individual shareholders to be physically present for every vote. Different variations or types of King Washington Voting Trust Agreements may exist depending on the specific terms and conditions agreed upon by the shareholder and the voting trustees. Some possible variations are: 1. Short-term Voting Trust Agreement: This type of agreement might be initiated for a specific period, such as during an important corporate event or shareholders' meeting. It is designed to temporarily consolidate voting power and is terminated once the particular event or meeting objectives have been achieved. 2. Long-term Voting Trust Agreement: In contrast to the short-term agreement, the long-term agreement is established for an extended duration. This type of arrangement could be useful when a group of shareholders wishes to maintain control over voting rights for an extended period, such as during succession planning or for strategic decision-making. 3. Revocable Voting Trust Agreement: This type of agreement allows the shareholder to revoke or modify the trust arrangement at any point in time. It provides flexibility to adapt to changing circumstances or if the shareholder wishes to regain direct control over the voting rights associated with their shares. 4. Irrevocable Voting Trust Agreement: Unlike the revocable agreement, the irrevocable voting trust agreement does not allow the shareholder to revoke or modify the terms once it has been established. This type of agreement is typically used in situations where the shareholder intends to relinquish control over the voting rights associated with their shares permanently. It is important to note that the specific details and variations of King Washington Voting Trust Agreements may differ based on the jurisdiction and the preferences of the involved parties. Consulting with legal professionals and understanding the specific terms outlined in each agreement is essential for shareholders considering such arrangements.