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Unanimous Shareholders' Agreements Have Special Legal Characteristics That Distinguish Them

Question 40

Multiple Choice

Unanimous shareholders' agreements have special legal characteristics that distinguish them from ordinary shareholders' agreements.Which of the following statements most accurately describes how unanimous shareholders' agreements are different?


A) Unanimous shareholders' agreements allow shareholders to transfer some or all of the powers and responsibilities of the directors to the shareholders.
B) Not all shareholders are parties to unanimous shareholders' agreements.
C) Under a unanimous shareholders' agreement, all shareholders must agree on all matters requiring shareholder approval.
D) Under a unanimous shareholders' agreement, share transfers must be subject to a right of first refusal.
E) A unanimous shareholders' agreement cannot be amended without the consent of all shareholders.

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