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CALIFORNIA CORPORATE & SECURITIES LAW

Improper Purpose Frustrates Member’s Assertion Of A Proper Purpose

The inspection rights of members of California nonprofit mutual benefit corporations mirror those of shareholders of corporations under the General Corporation Law. Section 8333 of the Corporations Code provides that the accounting books and records and minutes of proceedings of the members and the board and committees must be open open to inspection upon the…

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Comparing Books And Records Stockholder Inspection Rights In California, Delaware and Nevada

The right of a stockholder to inspect a corporate books and records was originally a common law right. California, Delaware and Nevada have since codified stockholder inspection rights. However, as summarized by the table below, these rights differ significantly amongst the three states. (This table doesn’t address what may be inspected which is a subject…

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