The Hay–Bunau-Varilla Treaty was signed in 1903.

Philippe-Jean Bunau-Varilla was a Panamanian citizen who negotiated the Hay–Bunau-Varilla Treaty.

The Canal Zone was administered by a Panamanian governor appointed by the U.S. president.

The U.S. military stationed in the Canal Zone was there to guarantee the canal's operation during times of war.

The Hay–Bunau-Varilla Treaty granted Panama full sovereignty over the Canal Zone from the moment it was signed.

The Panama Canal Treaty was signed in 1977 by Gen. Omar Torrijos Herrera of Panama and President Jimmy Carter of the United States.

The Panama Canal Treaty went into effect on January 1, 1980.

The United States retained the right to manage, operate, and maintain the Panama Canal for 20 years after the 1977 Panama Canal Treaty.

The Neutrality Treaty between Panama and the United States expired at the same time as the Panama Canal Treaty.

Under the Neutrality Treaty, all nations are allowed to operate the Panama Canal and maintain military installations within Panama.

The U.S. Senate ratified the Panama Canal treaties in 1978 after a brief debate.

The Panama Canal Act of 1979 established the Panama Canal Commission, which replaced both the Panama Canal Company and the Canal Zone government.

The Panama Canal Commission was controlled by a board of eight Panamanian members.

After 1990, the leadership of the Panama Canal Commission was assumed by Americans.

The Hay-Pauncefote Treaty of 1901 allowed the United States to take any necessary actions to protect the canal, but it guaranteed equality in the treatment of ships from all nations.