Shareholder Agreements - The Law Society of Saskatchewan

Corporate Commercial Section 6
2009 © The Law Society of Saskatchewan Shareholder Agreements
NOTES ON UNANIMOUS SHAREHOLDERS AGREEMENTS
Under the Business Corporations Act (Saskatchewan) a Unanimous Shareholders
Agreement may affect:
(a)
(b)
the pre-emptive rights of existing shareholders to acquire shares from the
treasury of the corporation (section 25(1));
the ability of personal representatives of a shareholder to deal with the shares
of that shareholder (section 50(2));
(c) the amendment of the bylaws by the directors (section 98(1));
(d)
(e)
(f)
(g)
(h)
(i)
the borrowing of money, the pledging of debt obligations, the giving of
guarantees, the mortgaging or creation of security interests in the property of
the corporation (section 183(1));
the disclosure of a material interest in the contracts of the corporation by
officers or directors (section 115(9));
the designation of the officers of the corporation, the specifications of their
duties, and the delegation to those officers of the power to manage the
business and the affairs of the corporation (section 116);
the remuneration of officers, directors and employees of the corporation
(section 120);
the contents of financial statements (section 149(1)(c)); and
the entitlement of shareholders to demand dissolution of the corporation
(section 207(1)(b)(i)).
Saskatchewan CPLED Program
Corporate–P–6–1