47-1A-732.1. Form, approval, amendment, and term of shareholder agreements.
92 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-732-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any agreement authorized by § 47-1A-732 shall be:
(1)Set forth in the articles of incorporation or bylaws and approved by all persons who are shareholders at the time of the agreement, or in a written agreement that is signed by all persons who are shareholders at the time of the agreement and is made known to the corporation;
(2)Subject to amendment only by all persons who are shareholders at the time of the amendment, unless the agreement provides otherwise; and
(3)Valid for ten years, unless the agreement provides otherwise.