Form, approval, amendment, and term of shareholder agreements

Any agreement authorized by § 47-1A-732 shall be: (1) Set forth in the articles of incorporation or bylaws and approved by all persons who are shareholders at the time of the agreement, or in a written agreement that is signed by all persons who are shareholders at the time of the agreement and is made known to the corporation; (2) Subject to amendment only by all persons who are shareholders at the time of the amendment, unless the agreement provides otherwise; and (3) Valid for ten years, unless the agreement provides otherwise. Source: SL 2005, ch 239, § 117.