8.10.170 Shareholders’ right to inspect records.
(a) A corporation shall keep the following records, which shall be made available for shareholders to inspect and copy at the corporation’s principal place of business:
(1) Minutes of all shareholder and board of directors meetings; and
(2) Accounting records subject to prohibitions on public disclosure; and
(3) Names and addresses of all shareholders, including the number and class of shares held by each; and
(4) Current articles of incorporation, bylaws and shareholder agreements, if any; and
(5) Resolutions adopted by the board of directors.
(b) Upon five days’ written notice, a shareholder is entitled to inspect and copy records referred to in subsection (a) of this section, subject to the following requirements:
(1) The shareholder’s demand must be made in good faith, and for a proper purpose; and
(2) The shareholder must describe, with reasonable particularity, his/her purpose, and the records he/she desires to inspect; and
(3) The records must be relevant to the shareholder’s purpose; and
(4) The corporation may impose a reasonable charge for the documents to cover costs associated with the photocopying process; provided, however, that the charge may not exceed any estimate of such costs provided to the shareholder.
(c) A shareholder’s agent or attorney has the same right to inspect and copy as the shareholder he/she represents. The agent or attorney must, however, produce proof in a form acceptable to the corporation indicating said authority has been actually delegated and/or assigned.
(d) A corporation may take reasonable steps to prevent the dissemination of trade secrets, proprietary information, or other commercially sensitive information to persons other than shareholders. [Ord. 18 Part II § 17, adopted, 10/7/2008.]