Voting Trust

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Voting Trust

A trust that common shareholders create in order to combine their votes at the annual meeting. Each shareholder transfers his/her voting rights to the trust, while retaining title to the dividends and other rights associated with the stock. The voting trust receives legal title to the common stock and issues voting trust certificates, representing the other rights of common stock, to shareholders. The voting trust uses these shares to vote as a block. This gives participating shareholders a degree of control over the company that they would not otherwise have. Typically, a voting trust can only exist for a certain period of time, depending on the laws of the state in which the company is incorporated.
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These statements include, among other things, statements regarding the consummation of the merger transaction and the benefits and consequences of the merger transaction and the extension of the term of the Voting Trust.
To qualify as a voting trust, the proposed regulations require a written agreement that
s (NYSE: BNI) recent filing with the ICC challenging Union Pacific's use of a voting trust in its proposed acquisition of Santa Fe Pacific Corporation (NYSE: SFX) is entirely without merit.
678 or beneficiary-controlled trusts, testamentary trusts (but only for a 60-day period), voting trusts and qualified subchapter S trusts (QSSTs).