Proxies
| HelpRegister |
Proxies I was curious what some other clubs do about proxies. In our club, members who can't make meetings are very good at assigning their proxy to another member. The problem is that some times one member will end up with an inordinate amount of proxies and will have a large say on every vote. Sometimes a member with, say 5 or 6 proxies, will reassign some of the proxies to other members at the beginning of the meeting. It has been proposed to change our by-laws to say that no member can have (accept) more than two (2) proxies for any meeting, so that the maximum a member can have at any meeting will be three (3) votes. Those against this proposal say that it is not correct (or legal) for a member to reassign proxies at the meeting if he/she has too many, and that if one member wishes to assign his/her proxy to another member, that is the wish of the assigning member and it should not be reassigned at the meeting. Those for the proposal think that if one member ends up with so many proxies, that member has just too much power in any vote that comes up at the meeting. Also, on occasion, proxies are assigned with instructions on how to vote on an issue that is known to be upcoming at the next meeting. However, most proxies are assigned with the assignor giving the assignee the general right to vote the way he/she wishes on any vote. And of course votes will be made at the meeting on subjects that are not necessarily known before the meeting. I'd appreciate anyones thought on this subject. Thanks! Morgan Lamarche My club handles the issue by specifying that items may be passed by a majority vote of those attending a meeting. In other words - no show, no vote, and live with the results. We also specify that members must attend 80% of all meetings each year to continue with the club. We have little dissension and virtually no absenteeism. Mike Jones Wall$treet Wannabees Bloomington, MN From: Morgan Lamarche <morganlamarche@comcast.net> To: Laurie Frederiksen <club_cafe@bivio.com> Sent: Monday, August 3, 2015 8:15 AM Subject: [club_cafe] Proxies I was curious what some other clubs do about proxies. In our club, members who can't make meetings are very good at assigning their proxy to another member. The problem is that some times one member will end up with an inordinate amount of proxies and will have a large say on every vote. Sometimes a member with, say 5 or 6 proxies, will reassign some of the proxies to other members at the beginning of the meeting. It has been proposed to change our by-laws to say that no member can have (accept) more than two (2) proxies for any meeting, so that the maximum a member can have at any meeting will be three (3) votes. Those against this proposal say that it is not correct (or legal) for a member to reassign proxies at the meeting if he/she has too many, and that if one member wishes to assign his/her proxy to another member, that is the wish of the assigning member and it should not be reassigned at the meeting. Those for the proposal think that if one member ends up with so many proxies, that member has just too much power in any vote that comes up at the meeting. Also, on occasion, proxies are assigned with instructions on how to vote on an issue that is known to be upcoming at the next meeting. However, most proxies are assigned with the assignor giving the assignee the general right to vote the way he/she wishes on any vote. And of course votes will be made at the meeting on subjects that are not necessarily known before the meeting. I'd appreciate anyones thought on this subject. Thanks! Morgan Lamarche We don't have proxies. You have to attend to vote. We have good attendance. Jayne Gilbert MakeALot Club. Houston Sent from my iPad
I agree with those above. If you don't show up then you don't get to vote. Actually, you are not voting you are just giving someone else 2 or more votes. Using proxies is unfair to those who make the effort to attend the meeting. John Rice On Monday, August 3, 2015 8:21 AM, Jayne Gilbert <jaynegrd@sbcglobal.net> wrote: We don't have proxies. You have to attend to vote. We have good attendance. Jayne Gilbert MakeALot Club. Houston Sent from my iPad I was curious what some other clubs do about proxies. In our club, members who can't make meetings are very good at assigning their proxy to another member. The problem is that some times one member will end up with an inordinate amount of proxies and will have a large say on every vote. Sometimes a member with, say 5 or 6 proxies, will reassign some of the proxies to other members at the beginning of the meeting. It has been proposed to change our by-laws to say that no member can have (accept) more than two (2) proxies for any meeting, so that the maximum a member can have at any meeting will be three (3) votes. Those against this proposal say that it is not correct (or legal) for a member to reassign proxies at the meeting if he/she has too many, and that if one member wishes to assign his/her proxy to another member, that is the wish of the assigning member and it should not be reassigned at the meeting. Those for the proposal think that if one member ends up with so many proxies, that member has just too much power in any vote that comes up at the meeting. Also, on occasion, proxies are assigned with instructions on how to vote on an issue that is known to be upcoming at the next meeting. However, most proxies are assigned with the assignor giving the assignee the general right to vote the way he/she wishes on any vote. And of course votes will be made at the meeting on subjects that are not necessarily known before the meeting. I'd appreciate anyones thought on this subject. Thanks! In a different type of organization we used to allow one proxy per attending person for a specific question and the proxy had to spell out how the proxy vote was to be cast; it worked quite well. Bob
Our club also does not have proxies. If you attend you get to vote. All the more reason to make sure you attend for important votes.
Baldwin-Haut InvestHers Pewaukee, WI
From: [mailto:]
On Behalf Of John Rice
I agree with those above. If you don't show up then you don't get to vote. Actually, you are not voting you are just giving someone else 2 or more votes. Using proxies is unfair to those who make the effort to attend the meeting.
John Rice
On Monday, August 3, 2015 8:21 AM, Jayne Gilbert <jaynegrd@sbcglobal.net> wrote:
We don't have proxies. You have to attend to vote. We have good attendance. Jayne Gilbert MakeALot
Club.
I was curious what some other clubs do about proxies. In our club, members who can't make meetings are very good at assigning their proxy to another member. The problem is that some times one member will end up with an inordinate amount of proxies and will have a large say on every vote. Sometimes a member with, say 5 or 6 proxies, will reassign some of the proxies to other members at the beginning of the meeting.
It has been proposed to change our by-laws to say that no member can have (accept) more than two (2) proxies for any meeting, so that the maximum a member can have at any meeting will be three (3) votes. Those against this proposal say that it is not correct (or legal) for a member to reassign proxies at the meeting if he/she has too many, and that if one member wishes to assign his/her proxy to another member, that is the wish of the assigning member and it should not be reassigned at the meeting. Those for the proposal think that if one member ends up with so many proxies, that member has just too much power in any vote that comes up at the meeting.
Also, on occasion, proxies are assigned with instructions on how to vote on an issue that is known to be upcoming at the next meeting. However, most proxies are assigned with the assignor giving the assignee the general right to vote the way he/she wishes on any vote. And of course votes will be made at the meeting on subjects that are not necessarily known before the meeting.
I'd appreciate anyones thought on this subject. Thanks!
For us, we have too many people in the club with business travel; therefore we do use proxies with a limit if 2 per member. We typically will have electronic information going out before the meeting, so these are not totally "blind" proxy votes. We also have a majority based on the total membership, not just those who show. So a contrast to some of the other clubs, but this is the system that works for us. We typically will have about 70% of the partners at each meeting with 100% of the votes represented. Jimmy James P. Dickerson | Technology Manager Office 423.229.1935 | Cell 423.367.9693 Sent from my iPhone
In our model club, we have members with business travel too. We have proxies...one proxy per attending member. Works fine. Phyllis Woodring Model Investment Club of Northern Virginia Do what you can. Want what you have. Be who you are. Sent from my iPhone
We only allow votes from those in attendance. From: "Morgan Lamarche" <morganlamarche@comcast.net> To: "Laurie Frederiksen" <club_cafe@bivio.com> Sent: Monday, August 3, 2015 9:15:45 AM Subject: [club_cafe] Proxies It has been proposed to change our by-laws to say that no member can have (accept) more than two (2) proxies for any meeting, so that the maximum a member can have at any meeting will be three (3) votes. Those against this proposal say that it is not correct (or legal) for a member to reassign proxies at the meeting if he/she has too many, and that if one member wishes to assign his/her proxy to another member, that is the wish of the assigning member and it should not be reassigned at the meeting. Those for the proposal think that if one member ends up with so many proxies, that member has just too much power in any vote that comes up at the meeting. Also, on occasion, proxies are assigned with instructions on how to vote on an issue that is known to be upcoming at the next meeting. However, most proxies are assigned with the assignor giving the assignee the general right to vote the way he/she wishes on any vote. And of course votes will be made at the meeting on subjects that are not necessarily known before the meeting. I'd appreciate anyones thought on this subject. Thanks! Morgan Lamarche Thank you all for your input. This may cause us to rethink the handling of proxies, if in fact we continue to use them. Thanks again. Morgan Lamarche Duxbury (MA) Investment Club
Morgan Lamarche |
|
||||||