District of Columbia 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
Those who may want to access public corporate information include shareholders, investors or legal counsel. While a person's home address is usually considered to be personal information, the Privacy Act allows for this information to be made available to the public because corporate laws require its disclosure.
Shareholders are entitled to inspect the company's financial books and records, including, but not limited to, financial statements, shareholder lists, corporate stock ledgers, and meeting minutes.
Any shareholder has a statutory right to be provided with a copy of certain financial and related documents for the company. These are the company's annual accounts, any strategic report for the previous financial year, the latest directors' report and the auditor's report on the accounts.
(Corp. Code, § 1600, subd. (a).) Shareholders who meet these requirements may ?inspect and copy the record of shareholders' names and addresses and shareholdings during usual business hours upon five business days' prior written demand.? (Ibid.)
Courts may impose conditions upon a director's right to inspect a corporation's books and records. A director's right to inspect may be denied where a disgruntled director announces an intention to violate his fiduciary duties.
Corporate records include the articles of association, company bylaws and other incorporation documents. In addition, the corporate records also include the policies and resolutions made and agreed by the Board.
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 ...
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 ...
