Corporation Misses

Question 1

Record Shareholder and Record Date

Answer 1

Generally, only shareholders of record on the record date are allowed to vote at a corporate meeting.

Record date is set by board, and may not be more than 70 days prior.

Question 2

Exceptions to Record Date Voting Rule

Answer 2

Treasury stock: Stock reacquired by corp. before date
Voting by Proxy

Question 3

Voting by Proxy

Answer 3

Shareholders may vote in person or by proxy executed in writing.

A proxy is:

1. writing
2. signed by shareholder
3. directed to the secretary of the corp.
4. authorizing another to vote the shares

Question 4

Revocation of Proxy

Answer 4

A proxy is generally revocable by:

1. shareholder’s attendance at the meeting
2. in writing to the secretary, or
3. subsequent appointment of another

Question 5

Irrevocable Proxies

Answer 5

Proxy is irrevocable only if:

1. it states it is AND
2. it is coupled with an interest in the shares OR given as security