kaal:claim:3017612-036

Even though New York decisions such as Adler v. Svingos suggest veto arrangements outside the charter will be specifically enforced, the better practice remains to amend the charter to insert them.

Source quote, verbatim

While shareholders of New York close corporations may be able to set up veto provisions without amending the corporation's charter, the better practice is to amend the charter to insert such arrangements.

From

Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017), IV.1 Legal Effects on the Corporation, p. 17
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

New York close corporations
high voting or unanimity requirements

Classification

normativesupport: arguedgovernance-design

Verify

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Attestation record: colloquium/attestations/0c2053944a512f2e...json
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