Proxies are generally valid for a period of eleven months from the time they are received by the corporation.

Question

Quizplus · Accepted Answer

Proxies are generally valid for a period of eleven months. This is because the Securities and Exchange Commission (SEC) has a rule that requires corporations to hold an annual meeting of shareholders within six months of the end of their fiscal year, and proxies can be solicited for this meeting up to 60 days before it is held. Therefore, proxies received by the corporation can be valid for up to eleven months (six months from the end of the fiscal year plus 60 days before the annual meeting).

Proxies Are Generally Valid for a Period of Eleven Months