Proxy Voting
Co-op shareholders are permitted to vote in board elections and other matters of corporate governance by proxy or absentee ballot. Proxies are a valuable part of the voting process, but boards need to be aware of the legal implications that can arise when proxies aren’t handled properly, as well as the potential for abuse that can result in a subversion of the electoral process. A better understanding of these issues as well as how and why proxies are used and the technical rules governing their issuance and solicitation will greatly benefit your building’s election process. Years ago, Cooperator News published an informative article that provides an excellent explanation about the use of proxies in co-ops — the information is still valuable today.
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