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 ?
The district entered into a five-year power pooling agreement with SENA on Oct.
The companies were still agreed, however, that price competition was to be avoided, and they were therefore prepared to take part in a rates conference, but the instability of the route structure made renewal of the Anglo-Scotch pooling agreement impossible.
In addition, effective January 1, 2013, ASI Pool's intercompany reinsurance pooling agreement was revised to add Gateway as a participating company.
These withdrawals are due to the elimination of the Rockhill pooling agreement and thus, the elimination of Rockhill, the agency explained.
As of 1 January 2011, the State Auto pooling agreement will be amended to add the operating results of the insurance companies of Rockhill, AM Best added.
Currently, State Auto National operates under an inter-company pooling agreement as part of State Auto.
Subsequent to the planned affiliation, Partners is expected to be added into Penn National's current pooling agreement and become a member of the pool, effective January 1, 2012.
Subsequent to the affiliation, Casco will continue to be separately rated and the Hingham Group will participate in the inter-company pooling agreement, led by New London County Mutual Insurance Co, AM Best added.
These actions follow the execution of an approved pooling agreement between Laurier, California Insurance Company (San Francisco, CA) and Continental Indemnity Company (Cedar Rapids, IA), which make up the North American Casualty Group (NAC).
The rating actions follow the completion of the acquisitions and recent regulatory approvals from the respective Departments of Insurance adding Keystone, AAA MAIC and AAA MAICNJ into the California State Auto's intercompany pooling agreement, retroactive to January 1, 2011.
When the transaction closes, ACC and DCC are expected to be added to the current pooling agreement of AIC.
AIC operates under an inter-company pooling agreement that currently includes five member companies.