PROXY VOTE Meaning and
Definition
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A proxy vote refers to a process where a person delegates their voting rights to another individual or entity to cast votes on their behalf in a formal decision-making setting. It is a mechanism allowing an individual who cannot personally attend a meeting or conference to still have their voice heard and participate in the voting process.
In proxy voting, the person granting the authority is known as the "proxy giver" or the "principal," while the individual receiving the authority and voting on behalf of the proxy giver is called the "proxy holder" or the "agent." Proxy votes are commonly used in various contexts, including corporate settings, shareholder meetings, political elections, and legislative bodies.
The process of proxy voting typically involves the proxy giver issuing a written authorization document known as a proxy form or proxy card. This document is provided to the proxy holder, granting them the right to vote on behalf of the proxy giver using their best judgment or as specified by the proxy giver. The proxy holder usually attends the meeting, conference, or voting session and casts the votes on the designated issues.
Proxy voting ensures that individuals who are unable to physically be present or may not have the necessary expertise to make informed decisions are still included in the decision-making process. It promotes inclusivity and allows individuals to exercise their rights, opinions, and interests in absentia, avoiding the exclusion of vital voices from important proceedings.
Common Misspellings for PROXY VOTE
- oroxy vote
- lroxy vote
- -roxy vote
- 0roxy vote
- peoxy vote
- pdoxy vote
- pfoxy vote
- ptoxy vote
- p5oxy vote
- p4oxy vote
- prixy vote
- prkxy vote
- prlxy vote
- prpxy vote
- pr0xy vote
- pr9xy vote
- prozy vote
- procy vote
- prody vote
- prosy vote
Etymology of PROXY VOTE
The word "proxy" comes from the Latin word "proximus" which means "nearest" or "next". In the early 15th century, it was adopted into English to denote a person authorized to act on behalf of another. The term "vote" comes from the Latin word "votum", which means "to vow".
The combination of these two words, "proxy vote", refers to the act of giving someone the authority to vote on one's behalf in a meeting or election. It emerged in the early 19th century and has since been used to describe the process of voting by proxy, where individuals can delegate their voting rights to someone else.
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