# kaal:claim:3017612-001

**Claim.** The 1991 passage of Section 7.32 of the Model Business Corporation Act triggered a wave of state authorization of shareholder control agreements, adopted specifically to secure the validity of such agreements rather than leaving validity to uncertain judicial development.

**Type.** mechanism  **Support.** evidenced

**Holds when.**

- United States state corporate law
- post 1991

**Source quote.**

> Since Section 7.32 of the Model Business Corporation Act (MBCA) was passed in 1991, most US states have authorized shareholder control agreements in an effort to support the validity of such agreements.

**From.** Wulf A. Kaal, *Shareholder Agreements - National Report of the United States of America* (2017), I. Nature of Corporate Law Regulation, page 2

**Cite as.** Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612

**Verify.** sha256 of source PDF `33821db406f92efbe1698fbaed37687595c13b7ce5463b4a879df679fd4af1ac` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Shareholder%20Agreements%20-%20National%20Report%20of%20the%20United%20States%20of%20America.pdf

**Topics.** corporate-governance

**Keywords.** shareholder-agreements, mbca-7-32, state-corporate-law, statutory-validation

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