California 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
In general, section 317 provides that a corporation may advance 'expenses' incurred by a corporate 'agent' in defending any 'proceeding' prior to the final disposition of such proceeding upon the receipt of an undertaking that the agent will reimburse the corporation unless it is ultimately determined that the agent is ...
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 ...
CA Corp. Code§ 317(b) states a corporation has the power to indemnify any person who,? ? is or was an agent of the corporation, against expenses, judgments, fines, settlements, and other amounts actually and reasonably incurred in connection with the proceeding if that person acted in good faith.?
(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.
Every corporation shall keep at its principal office in this state, or if its principal office is not in this state at its principal business office in this state, the original or a copy of its bylaws as amended to date, which shall be open to inspection by the shareholders at all reasonable times during office hours.
?Officers' certificate? means a certificate signed and verified by the chairperson of the board, the president or any vice president and by the secretary, the chief financial officer, the treasurer or any assistant secretary or assistant treasurer.
Any director sued under this section may file a cross-complaint against the person or persons who are liable to the director as a result of the subrogation provided for in this subdivision or may proceed against them in an independent action. (Amended by Stats.
Section 315 - Loans or guaranties (a) A corporation shall not make any loan of money or property to, or guarantee the obligation of, any director or officer of the corporation or of its parent, unless the transaction, or an employee benefit plan authorizing the loans or guaranties after disclosure of the right under ...
