Montana Demand for Inspection of Corporate Books and Records
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How to fill out Demand For Inspection Of Corporate Books And Records?
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FAQ
Section 1601 - Shareholder's right to inspect books and records and minutes (a) (1)The accounting books, records, and minutes of proceedings of the shareholders and the board and committees of the board of any domestic corporation, and of any foreign corporation keeping any records in this state or having its principal ...
The right to access the company's documents and financial records. As a director, you can inspect the company's books and accounts. The right to delegate. A director can delegate any of their powers to another person, provided this is recorded in the company's minute book and does not violate its constitution.
However, Corporations Code Section 8334 gives each board member (each director of the association) the ?absolute right at any reasonable time to inspect and copy all books, records and documents of every kind and to inspect the physical properties of the corporation of which such person is a director.? Thus, unlike ...
Shareholder's Inspection Rights Although not as broad as directors, shareholders in California corporations have substantial rights of inspection, provided the shareholder owns at least five percent in the aggregate or one percent individually of the outstanding shares of the corporation. (Corp. Code, § 1600, subd.
(Corp. Code, §§ 1600, subd. (c); 1601.) Corporations Code section 1501, subdivisions (a) and (c), also provide that any shareholder has the right to inspect a copy of the Corporation's financial statement for the prior fiscal year within 30 days of a written request.
In pre-trial discovery, parties may have the right to inspect documents that are relevant to the case. In civil cases, the concept of "documents" has been interpreted broadly, and it generally includes any item that contains descriptive information, including electronic records.
Probably the most common reason for a shareholder's wanting to inspect corporate records is to determine the financial performance of the company and other information that bears ultimately on the value of the shareholder's ownership interest.
