Shareholder Voting Trust System Research

Voting trust is a legal system, it refers to a specific purpose of the shareholder,through the voting trust contract reached by the trustee in a certain period to exercise itsright to vote the shares agreement, and shareholders or shareholders designated personenjoys the right of return. The system of the United States since the birth of freedom,helping the company financing and revival of medium and small shareholders, increasepower, optimizing the corporate governance mechanism plays an important role intheoretical study and practical development, has important research value.China’s current legislation has no statutory law of voting trust, but in practice in2002"Qingdao beer shareholding modification case" has clearly adopt voting trust to configurethe control of the company.In addition, the2009CaoDeWang donation enclosed "specialterms" is virtually the use of the voting trust. In our trust industry development and trustscope gradually expanding background, voting trust in our company field will have moreand more applicable space, but due to the lack of practice and theoretical research andlegal system’s support, which lead to the system in China is still failed to get a goodpromotion use. This paper try to provide some ideas in theory and in practice for ourcountry introduce voting trust through investigation and discussion the system in theUnited States.This paper is divided into four parts to the voting trust system is discussed.The first part is an overview of the shareholder’s voting right trust system. First of all,this paper discusses the definition and legal property of the voting trust; second, throughthe history of the voting trust system comb, and clear the system’s development context;finally, through the elaboration of the voting trust, voting trust and related systemcomparison, even more highlights the characteristics of voting trust.The second part is the content of the system shareholder’s voting right trust. Mainlyrelated to the object of voting trust and its jurisprudential debate, voting trust of valid legalrequirements, nullity and revocable reason, purpose of voting trust law, lack of established statutory requirements, as well as the voting trust of the parties, such as the principalshareholder, fiduciary, voting trust certificate holders and their rights and obligations andother aspects, and puts forward the relevant problems and brief analysis.The third part is the shareholder’s voting right trust’s feasibility of implementing inour country, mainly in the introduction of the system of shareholders’ voting trust legalfoundation, introducing voting trust law environment, introducing voting trust systembased on the practice and other aspects is discussed. In addition, the voting trust of theshareholders in our country the specific application, such as voting trust in state-ownedstock management, voting trust in the interests of small shareholders protectionapplication, voting trust in the rearrangement of assets of listed company to use in practiceand theory for extensive discussion.The fourth part is the shareholder’s voting right trust in China to realize path. First ofall, this paper discussed China’s voting trust system construction related to the externalsystem, including the idea of the trust and the traditional theory of civil law, the fusion ofmodern trust industry development. Secondly, for voting trust in our country how tolegislative design, as well as the improvement of the relevant legal system put forwardtheir own suggestions.