79-11-285 - Members' right to inspect and copy corporation records; requirements.
§ 79-11-285. Members' right to inspect and copy corporation records; requirements.
(1) Subject to Section 79-11-287(3), a member is entitled to inspect and copy, at a reasonable time and location specified by the corporation, any of the records of the corporation described in Section 79-11-283(5) if the member gives the corporation written notice of his demand at least five (5) business days before the date on which the member wishes to inspect and copy.
(2) A member is entitled to inspect and copy, at a reasonable time and reasonable location specified by the corporation, any of the following records of the corporation if the member meets the requirements of subsection (3) of this section and gives the corporation written notice at least five (5) business days before the date on which the member wishes to inspect and copy:
(a) Excerpts from any records required to be maintained under Section 79-11-283(1), to the extent not subject to inspection under subsection (1) of this section;
(b) Accounting records of the corporation; and
(c) Subject to Section 79-11-291, the membership list.
(3) A member may inspect and copy the records identified in subsection (2) of this section only if:
(a) The member's demand is made in good faith and for a proper purpose;
(b) The member describes with reasonable particularity the purpose and the records the member desires to inspect; and
(c) The records are directly connected with this purpose.
(4) This section does not affect:
(a) The right of a member to inspect records if the member is in litigation with the corporation, to the same extent as any other litigant; or
(b) The power of a court, independently of Section 79-11-101 et seq., to compel the production of corporate records for examination.
Sources: Laws, 1987, ch. 485, § 93, eff from and after January 1, 1988.