What is a USA?
The Canadian Business Corporations Act (CBCA), as well as its provincial counterparts, set out the definition for an Unanimous Shareholders Agreement (“USA”). As defined in the CBCA, a USA is “a written agreement among all shareholders or among all shareholders and one or more persons who are not shareholders, that restricts, in whole or in part, the powers of the directors to manage, or supervise the management of, the business and affairs of the corporation.” …Read more
