Voting Trust

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Voting Trust

A type of agreement by which two or more individuals who own corporate stock that carries voting rights transfer their shares to another party for voting purposes, so as to control corporate affairs.

A voting trust is created by an agreement between a group of stockholders and the trustee to whom they transfer their voting rights or by a group of identical agreements between individual shareholders and a common trustee. Such agreements ordinarily provide that control of stock is given to the trustee for a term of years, for a time period contingent upon a certain event, or until the termination of the agreement. Voting trust agreements may provide that the stockholders can direct how the stock is to be voted.

voting trust

n. a trust which solicits vote proxies of shareholders of a corporation to elect a board directors and vote on other matters at a shareholders' meeting. A voting trust is usually operated by current directors to insure continued control, but occasionally a voting trust represents a person or group trying to gain control of the corporation. (See: corporation, shareholder, stockholder, proxy)

References in periodicals archive ?
Both Charles Fabrikant, Chairman of SEACOR, and Pierre de Demandoix, General Manager of CNN, expressed pleasure that their organizations had been able to expand on the coordination and cooperation begun with the pooling agreement.
Best's established requirements for new company formations through a pooling agreement.
Best's completion of a full evaluation of the reinsurance pooling agreement.
has upgraded the financial strength rating (FSR) to A+ (Superior) from A- (Excellent) and the issuer credit ratings (ICR) to "aa-" from "a-" of Rockhill Insurance Company (Phoenix, AZ), Plaza Insurance Company (Kansas City, MO), American Compensation Insurance Company and Bloomington Compensation Insurance Company (both domiciled in Bloomington, MN), following their addition to the intercompany pooling agreement of State Auto Insurance Companies (State Auto) (Columbus, OH), retroactive to an effective date of January 1, 2011.
Pursuant to the pooling agreement, PNC represents and warranties to the trustee for the benefit of the certificateholders that as of the closing date each mortgaged property is free of damage and in good repair, ordinary wear and tear excepted.
NASDAQ:HGIC) and Harleysville Mutual Insurance Company have amended their intercompany pooling agreement as it relates to their workers compensation business, effective January 1, 2011.
The certificates were issued pursuant to a Pooling Agreement, dated as of Dec.
As of January 1, 2011, the State Auto pooling agreement will be amended to add the operating results of the insurance companies of Rockhill.
As previously reported, the Pooling Agreement will bring under common marketing management 27 anchor handling towing supply, production, and terminal support vessels.
Additionally, the boards of directors of STFC and State Automobile Mutual Insurance Company approved proposed changes to the intercompany reinsurance pooling agreement for the State Auto Group.
The rating actions follow the recent policyholder and regulatory approval of the participation of Hingham and Danbury in the intercompany pooling agreement of NLC Insurance Companies (NLC).
The certificates were issued pursuant to a pooling agreement between Fund America Investors Corporation II, as depositor, and State Street Bank and Trust, as trustee.