This lesson is a comprehensive discussion of shareholder agreements under section 7.32 of the Revised Model Business Corporation Act (RMBCA).

The lesson covers four major topics:

• The requirements for a valid shareholder agreement under section 7.32(b).
• The notice to subsequent purchasers of the corporation's shares required by section 7.32(c)
• The limits on corporations whose shareholders may utilize section 7.32.
• The ways in which a section 7.32 shareholder agreement may modify the usual corporate governance rules.