Proxy Defined
Proxy | Definition of Proxy by Merriam-Webster
\ ˈpräk-sē
\
1: a person who is given the power or authority to do something (such as to vote) for someone else
Since I wouldn’t be available to vote, I nominated him to act as my proxy.
2: power or authority that is given to allow a person to act for someone else
1: the agency, function, or office of a deputy who acts as a substitute for another
2a: authority or power to act for another
b: a document giving such authority
specifically: a power of attorney authorizing a specified person to vote corporate stock
3: a person authorized to act for another: procurator
Proxy | Wex | US Law | LII / Legal Information Institute
DefinitionA person designated by another to attend a shareholders’ meeting and vote on their behalf. A proxy can be revoked at any time by the grantor, unless it has been coupled with an short for a proxy statement, which is a written notice required to be sent by the corporation to the shareholders before voting by proxy, and includes such information as the issues to be voted upon and the names of directors up for election to the alsoShareholders meetingCommon stock
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business law
corporations
wex definitions
Keywords
llcs-corporations-partnerships
Proxy – Legal Dictionary
ProxyA representative; an agent; a document appointing a representative. A proxy is a person who is designated by another to represent that individual at a meeting or before a public body. It also refers to the written authorization allowing one person to act on behalf of another. In corporate law, a proxy is the authority to vote stock. This authority is generally provided by the charter and bylaws of a corporation or by a state statute. If authority is not provided, a stockholder cannot vote by proxy. The record owner of the stock whose name is registered on the corporate books is the only individual who can delegate the right to vote. In the absence of an express requirement, no particular form is necessary for a proxy. It must, however, be evidenced by a sufficient written grant of authority. A proxy is not invalid if minor errors or omissions appear on the document. Generally any power that a stockholder possesses at a corporate meeting can be delegated to a proxy. An ordinary proxy can vote on regular corporate business, such as the amendment of the bylaws. The proxy is not authorized to vote, however, on extraordinary corporate business, such as a merger, unless given special authority to do so. When a proxy acts within the scope of her authority, under agency principles, the stockholder is bound as if she acted in person. A proxy can be revoked at any time, unless it is coupled with an interest or made expressly irrevocable. The sale of a stockholder’s shares automatically revokes any proxies previously given to vote those shares. A proxy can also be revoked when the stockholder gives a subsequent proxy or attends the meeting in person. A stockholder can act as a proxy for another shareholder, but it is not necessary for a proxy to be a stockholder. West’s Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights 1) someone who is authorized to serve in one’s place at a meeting, particularly with the right to cast votes. 2) the written authority given to someone to act or vote in someone’s place. A proxy is commonly given to cast a stockholder’s votes at a meeting of shareholders, and by board members and convention pyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right 1 a person appointed by a company member to attend and vote in place of the member at a company meeting. 2 the instrument appointing a person to act as proxy. Collins Dictionary of Law © W. J. Stewart, 2006PROXY. A person, appointed in the place of another, to represent him.
2. In the ecclesiastical law, a judicial proctor, or one who is
appointed to manage another man’s law concerns, is called a proxy. Ayl.
Parerg.
3. The instrument by which a person is appointed so to act, is likewise
called a proxy.
4. Proxies are also annual payments made by the parochial clergy to the
bishop, &c., on visitations. Tom. Law Dictionary, h. t. Vide Rutherf. Inst.
253; Hall’s Pr. 14.
5. The right of voting at an election of an incorporated company by
proxy is not a general right, and the party claiming it must show a special
authority for that purpose. Ang. on Corp. 67-69; 1 Paige’s Ch. Rep. 590; 5
Day’s Rep. 329; 5 Cowen, Rep. 426. A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
Frequently Asked Questions about proxy defined
What does it mean to be called a proxy?
1 : a person who is given the power or authority to do something (such as to vote) for someone else Since I wouldn’t be available to vote, I nominated him to act as my proxy. 2 : power or authority that is given to allow a person to act for someone else.
What is the legal definition of a proxy?
Definition. A person designated by another to attend a shareholders’ meeting and vote on their behalf. A proxy can be revoked at any time by the grantor, unless it has been coupled with an interest.
Can a person be a proxy?
A proxy is a person who is designated by another to represent that individual at a meeting or before a public body. … It also refers to the written authorization allowing one person to act on behalf of another. In corporate law, a proxy is the authority to vote stock.
