355.826. Member's inspection of records.

518 words·~2 min read·/mo/chapter-355/355-826

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

355.826. Member's inspection of records. — 1. Subject to subsection 3 of section 355.831 , a member, or resident of a class of residents who have paid into the corporation for services or other charges over fifty percent of the corporation's operating expenses, is entitled to inspect and copy, subject to subsections 2 and 3 of this section, at a reasonable time and location specified by the corporation, any of the records of the corporation required by this act * if the member or resident gives the corporation written notice or a written demand at least five business days before the date on which the member or resident wishes to inspect and copy.

2. Subject to subsection 5 of this section, a member or resident of a class of residents who have paid into the corporation for services or other charges over fifty percent of the corporation's operating expenses 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 or resident gives the corporation written notice at least five business days before the date on which the member or resident wishes to inspect and copy:

(1)Any records required to be maintained under subsection 1 of section 355.821 , to the extent not subject to inspection under subsection 1 of section 355.826 ; and

(2)Financial statements of the corporation.

3. A member or resident may inspect and copy the records identified in this section only if:

(1)The member or resident describes with reasonable particularity the purpose and the records the member or resident desires 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 section 355.271 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 of this chapter, to compel the production of corporate records for examination.

5. The articles or bylaws of a public benefit corporation which is a church or convention or association of churches may limit or abolish the right of a member under this section to inspect and copy any corporate record. This subsection shall not apply to residents or a class of residents of a religious corporation when such residents have paid into the corporation for services or other charges in excess of fifty percent of the corporation's operating expenses.

6. When a corporation has no members and makes provision for a self-perpetuating board of directors, any recipient or beneficiary of the services or activities of such corporation may inspect and copy the books and records of such corporation under the same conditions and rights as provided for a member. A recipient or beneficiary may designate an agent or attorney for the purpose of conducting such inspection and making such copies.

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(L. 1994 H.B. 1095)

Effective 7-01-95

*"This act" (H.B. 1095, 1994) contained numerous sections. Consult Disposition of Sections table for a definitive listing.