# kaal:claim:3017612-009

**Claim.** MBCA Section 7.32 requires unanimity, so agreements that bind only a block of shareholders rather than all of them cannot rely on that section and must find authorization elsewhere.

**Type.** condition  **Support.** evidenced

**Holds when.**

- agreements seeking MBCA Section 7.32 protection

**Source quote.**

> Most importantly the agreement must be unanimous, so that agreements that do not involve all shareholders, such as agreements designed to keep control within a block, must look elsewhere for their authorization.

**From.** Wulf A. Kaal, *Shareholder Agreements - National Report of the United States of America* (2017), II. Regulation of Shareholders' Agreements, page 6

**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

**Failure mode.** non-unanimous-agreement-falls-outside-7-32  (family: legal-personality-and-liability-gap)

**Topics.** institutional-design

**Keywords.** unanimity-requirement, mbca-7-32, control-blocks, statutory-authorization

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