(1) Subject to ORS 60.777 (3), a shareholder of a corporation is entitled to inspect and copy, during regular business hours at the corporation’s principal office, any of the records of the corporation described in ORS 60.771 (5) if the shareholder gives the corporation written notice of the shareholder’s demand at least five business days before the date on which the shareholder wishes to inspect and copy.
(2) A shareholder of a corporation is entitled to inspect and copy, during regular business hours at a reasonable location specified by the corporation, any of the following records of the corporation if the shareholder meets the requirements of subsection (3) of this section and gives the corporation written notice of the shareholder’s demand at least five business days before the date on which the shareholder wishes to inspect and copy:
(a) Excerpts from minutes of any meeting of the board of directors, records of any action of a committee of the board of directors while acting in place of the board of directors on behalf of the corporation, minutes of any meeting of the shareholders and records of action taken by the shareholders or board of directors without a meeting, to the extent not subject to inspection under subsection (1) of this section;
(b) Accounting records of the corporation, including tax returns; and
(c) The record of shareholders.
(3) A shareholder may inspect and copy the records identified in subsection (2) of this section only if:
(a) The shareholder’s demand is made in good faith and for a proper purpose;
(b) The shareholder described with reasonable particularity the shareholder’s purpose and the records the shareholder desires to inspect; and
(c) The records are directly connected with the shareholder’s purpose.
(4) The right of inspection granted by this section may not be abolished or limited by a corporation’s articles of incorporation or bylaws.
(5) This section does not affect:
(a) The right of a shareholder to inspect records under ORS 60.224 or, if the shareholder is in litigation with the corporation, to the same extent as any other litigant; or
(b) The power of a court, independent of this chapter, to compel the production of corporate records for examination.
(6) For purposes of this section, “shareholder” includes a beneficial owner whose shares are held in a voting trust or by a nominee on behalf of the beneficial owner. [1987 c.52 §170; 1989 c.1040 §34; 1993 c.403 §10]
Section: Previous 60.731 60.734 60.737 60.741 60.744 60.747 60.771 60.774 60.777 60.781 60.784 60.787 60.801 60.804 60.807 NextLast modified: August 7, 2008