# kaal:claim:3017612-035

**Claim.** States lacking specific authorization for shareholder control agreements generally still permit departure from the default rule of director control if the departure is set forth in the corporation's charter or bylaws.

**Type.** condition  **Support.** asserted

**Holds when.**

- states without shareholder control agreement statutes

**Source quote.**

> States that do not specifically authorize shareholder control agreements usually contain a statute allowing parties to make exceptions from the default rule of director control by making providing for it in the corporation's charter or bylaws.

**From.** Wulf A. Kaal, *Shareholder Agreements - National Report of the United States of America* (2017), IV.1 Legal Effects on the Corporation, page 16

**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, governance-design

**Keywords.** director-control, default-rules, charter-amendment, state-variation

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