Shareholders’ Right To Inspect Corporate Books and Records (Part 5)

Texas: An Issue for the Jury. In Texas, a holder of shares of a corporation for at least six (6) months, or a holder of at least 5% of all of the outstanding shares of a corporation, is entitled to examine and copy the corporation’s relevant books, records of account,...

Shareholders’ Right To Inspect Corporate Books and Records (Part 4)

New York: Proper Purposes.  The New York statute provides that a shareholder has the right to examine corporate books and records upon at least five (5) days’ written demand for any purpose reasonably related to such person’s interest as a shareholder.[1]  Inspection,...

Shareholders’ Right To Inspect Corporate Books and Records (Part 3)

Delaware: Reasonable Restrictions. In Delaware, any stockholder is entitled to inspect the corporation’s books and records upon written demand, for any proper purpose.[1]  The statute defines a proper purpose as a purpose reasonably related to such person’s interest...

Shareholders’ Right To Inspect Corporate Books and Records (Part 2)

Maryland: Hogans v. Hogans Agency, Inc. In Hogans v. Hogans Agency, Inc., Hogans was a 37.5% stockholder of Hogans Agency, Inc., an insurance and real estate brokerage company, and an owner of a competing business.[1] In December 2013, Hogans sent a letter to the...

Shareholders’ Right To Inspect Corporate Books and Records (Part 1)

We have covered several aspects of shareholder rights in our blogs, including the rights of minority shareholders in the context of oppression by the majority (available here and here) and, more recently, the right to bring a derivative action on behalf of a wholly...