355.826. Member's inspection of records.
Member's inspection of records.
355.826. 1. Subject to subsection 3 of section 355.831, amember, or resident of a class of residents who have paid intothe corporation for services or other charges over fifty percentof the corporation's operating expenses, is entitled to inspectand copy, subject to subsections 2 and 3 of this section, at areasonable time and location specified by the corporation, any ofthe records of the corporation required by this act* if the memberor resident gives the corporation written notice or a writtendemand at least five business days before the date on which themember or resident wishes to inspect and copy.
2. Subject to subsection 5 of this section, a member orresident of a class of residents who have paid into thecorporation for services or other charges over fifty percent ofthe corporation's operating expenses is entitled to inspect andcopy, at a reasonable time and reasonable location specified bythe corporation, any of the following records of the corporationif the member or resident gives the corporation written notice atleast five business days before the date on which the member orresident wishes to inspect and copy:
(1) Any records required to be maintained under subsection 1of section 355.821, to the extent not subject to inspection undersubsection 1 of section 355.826; and
(2) Financial statements of the corporation.
3. A member or resident may inspect and copy the recordsidentified in this section only if:
(1) The member or resident describes with reasonableparticularity the purpose and the records the member or residentdesires to inspect; and
(2) The records are directly connected with this purpose.
4. This section does not affect:
(1) The right of a member to inspect records under section355.271 or, if the member is in litigation with the corporation,to the same extent as any other litigant; or
(2) The power of a court, independently of the provisions ofthis chapter, to compel the production of corporate records forexamination.
5. The articles or bylaws of a public benefit corporationwhich is a church or convention or association of churches maylimit or abolish the right of a member under this section toinspect and copy any corporate record. This subsection shall notapply to residents or a class of residents of a religiouscorporation when such residents have paid into the corporationfor services or other charges in excess of fifty percent of thecorporation's operating expenses.
6. When a corporation has no members and makes provisionfor a self-perpetuating board of directors, any recipient orbeneficiary of the services or activities of such corporation mayinspect and copy the books and records of such corporation underthe same conditions and rights as provided for a member. Arecipient or beneficiary may designate an agent or attorney forthe purpose of conducting such inspection and making such copies.
(L. 1994 H.B. 1095)Effective 7-1-95
*"This act" (H.B. 1095, 1994) contains numerous sections. Consult Disposition of Sections table for definitive listing.