A “voting trust” is an agreement where one or more shareholders appoints a trustee to vote on behalf of the shareholders at a corporate meeting. It is in effect a more nuanced proxy arrangements (a proxy is usually legally authorized to vote on another person’s behalf). The principle difference is that a voting trust document…
Legal Articles
Ordinary Shareholder Relief: Removal of Corporate Directors & Officers
Although priority will generally be given to a corporation’s bylaws and shareholder vote, Missouri law has several safeguards that protect minority shareholders in closely held corporations. To give examples, if a shareholder can prove that the (1) directors or those in control of the corporation have acted, are acting, or will act illegally, oppressively, fraudulently…