What are the rights of shareholders with respect to inspecting the books and records of the corporation?
Any shareholder of a corporation may demand (1) the minutes of shareholder proceedings and (2) records of shareholders on 5 day’s of advance written notice to corporation. After receipt of a such request, the Corporation may demand that the shareholder give an affidavit that his purpose is not other than the interest of the corporation and he has not within 5 years tried to sell any list of shareholders. If the shareholder refuses to furnish such an affidavit, the corporation may deny access. Regarding the list of the current directors and officers, any shareholder can demand that on two day’s written demand. There...Continue reading