kaal:claim:3017612-005

Under MBCA Section 7.32 the ten year duration limit is only a default rule, unlike the corresponding limit for voting trusts, so parties who specify a longer term are permitted to have it.

Source quote, verbatim

The section specifies a 10 year limit, a similar period to voting trusts, but unlike voting trusts, this period is just a default rule, so that if the parties specify a longer period it is permitted.

From

Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017), II. Regulation of Shareholders' Agreements, p. 6
https://ssrn.com/abstract=3017612 · source PDF

Cite as

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

Holds when

agreements formed under MBCA Section 7.32

Classification

definitionalsupport: evidencedreputationgovernance-design

Verify

The quote above is an exact substring of the source PDF, whose sha256 is 33821db406f92efbe1698fbaed37687595c13b7ce5463b4a879df679fd4af1ac. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/ae43e1b0f231f5a4...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3017612-005.md | sha256sum