Who appoints the proxies in a corporation?

Study for the LEGL 2700 Hackleman 3 Exam with comprehensive questions, each accompanied by detailed explanations and hints. Ace your exam preparation today!

In a corporation, the act of appointing proxies typically falls to the shareholders. Proxies are individuals that shareholders appoint to vote on their behalf at shareholder meetings. This process allows shareholders who cannot attend these meetings to still participate in corporate governance.

Officers and the board of directors may play roles in facilitating the proxy voting process, providing information, or ensuring compliance with legal and procedural requirements, but they do not appoint proxies. Legal advisors may provide guidance and ensure that proxy materials comply with legal standards, but they do not have the authority to appoint proxies. Thus, the correct understanding of who appoints proxies in a corporation centers on the shareholders themselves, as it is their responsibility and right to delegate their voting power through the appointment of proxies.

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