A shareholder agreement authorized under MBCA Section 7.32 ceases to be effective once the corporation's stock is listed on a national securities exchange or regularly traded in a dealer maintained market, so the going public event terminates the arrangement.
Source quote, verbatim
agreement ceases to be effective when the stock of the corporation is listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association.
From
Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017), II. Regulation of Shareholders' Agreements, p. 5 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
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