What Are Some Requirements for Proxy Voting Online?

What Are Some Requirements for Proxy Voting Online?

Proxy voting online typically requires the shareholder to know his control number and which website to use, and to have some familiarity with the issues up for vote, says the U.S. Securities and Exchange Commission. The specific requirements differ depending on state law and the corporation's rules.

Proxy voting is the process by which a member of an organization grants the right for another member to vote on his behalf, typically because the first member lives too far from where the voting takes place, reports National Paralegal College. In many cases, properly registered proxy voters count as present for the purposes of establishing a quorum. Proxy voting is a commonly used tool for investors who wish to impact the decisions made at a firm's annual meetings, reports the SEC.