Definition

Pooling agreement (Ro.: Contract prin care acționarii transferă drepturi de vot sau acțiuni cu drept de vot unui reprezentant, Gr.:  σύμβαση κοινοπραξίας, Cz.: dohoda o společném postupu) (See also: voting trust, shareholder agreement, proxy agreement, voting agreement) = a contract through which shareholders transfer their voting rights to a third party (trustee). In voting trusts, the transfer involves the voting shares, not only the rights. The purpose of the agreement is to combine the voting power of shareholders for situations involving director elections or any important decisions concerning the company and it is occasionally used to gain control of the corporation.

 

Useful links

Legislation

http://webserver.rilin.state.ri.us/Statutes/title7/7-1.2/7-1.2-709.HTM -  Rhode Island Business Corporation Act, PART 7-1.2-70, Shareholders

http://codes.ohio.gov/orc/1701.49 - Ohio Revised Code, Title XVII Corporations- Partnerships, Chapter 1701: General Corporation Law 

http://www.legislation.gov.hk/blis_ind.nsf/e1bf50c09a33d3dc482564840019d2f4/9c29c24e64f94027c82564830033af3b?OpenDocument – Cessation of application of pooling agreement

http://apps.leg.wa.gov/rcw/default.aspx?cite=23B.07.300 - Washington State Legistrature, Voting Trusts

http://law.justia.com/codes/new-jersey/2013/title-14a/section-14a-5-20 - 2013 New Jersey Revised StatutesTitle 14A - CORPORATIONS, GENERAL Section 14A:5-20 - Voting trust

http://www.legislature.mi.gov/(S(i52odzvacg3vbeznfcawci45))/mileg.aspx?page=getObject&objectName=mcl-450-1466 – Michigan Legislative Website, BUSINESS CORPORATION ACT (EXCERPT), Voting trust agreement; certificates.

Organizations and associations

https://www.nickspradlin.com/voting_trust.php - The Law Offices of Nick Spradlin, Voting Trust

http://www.allenderlaw.com/newsletters/estate-planning-newsletter/voting-trusts/ - Allender & Allender, Attorneys at Law, Voting Trust

Publications

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2234348 – Roth, Markus, 2013, Shareholders’ Agreements in Listed Companies: Germany

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=837645 – Adams, Renee B. and Santos, Joao A. C., 2006, Identifying the Effect of Managerial Control on Frim Performance

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=891671 -  Santos, Joao A. C. and Wilson, Kristin E., 2008, Does Banks’ Corporate Control Benefit Frims? Evidence from US Banks’ Control Over Firms’ Voting rights

Online Publications

http://www.jstor.org/stable/784807  - Pooling Agreements among Stockholders, The Yale Law Journal

http://digitalcommons.law.uga.edu/cgi/viewcontent.cgi?article=1084&context=stu_llm -  Ricardo Molano León , Shareholders’ Agreements In Close Corporations 

http://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?article=3530&context=californialawreview - Corporations: Voting Trusts and Irrevocable Proxies, California Law Review

http://www.repository.law.indiana.edu/cgi/viewcontent.cgi?article=4248&context=ilj - Robert W. Miller, Voting Trusts, Indiana Law Journal

http://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=5280&context=fss_papers - Simeon E. Baldwin, Voting-Trusts, Yale Law School Faculty Scholarship 

 

By Alexandru Coraș