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MINUTE BOOK RIGHTS OF INSPECTION
Inspection by the Public
With at least 5 days notice and where the Corporation is not unduly disrupted, the general public may request to inspect with proper purpose the following without restriction:
Inspection by Creditors
A creditor may request to inspect during regular business hours with proper purpose and without restriction:
Inspection by Shareholder
A Shareholder may request to inspect during regular business hours with proper purpose and without cost or restriction:
Inspection by Director
A Director may request to inspect at any reasonable time with proper purpose and without cost or restriction:
Notes and Comments on Inspection Rights
Last Updated December 30, 2024
A Minute Book compiles a corporation's key documents, such as articles of incorporation, directors' meeting minutes, corporation bylaws, directors' and shareholders' resolutions, annual reports, and more.
LawDepot's rights of inspection document is customized according to the laws of the Canadian jurisdiction in which your business was incorporated and addresses the rights of:
In a rights of inspection document, you can outline the corporate records of your business that people (such as shareholders) may have the right to view and the procedure they may have to follow when requesting an inspection. This document is often found within a corporate minute book or in a company's policy and procedure manual.
For example, if someone wanted to examine a business' securities register (i.e. a record of who owns stocks or bonds in a corporation), they might refer to the rights of inspection document to see:
It's important to note that LawDepot's rights of inspection document is intended for use by private corporations. Public companies generally have greater obligations of transparency and accountability to shareholders and members of the public, while private companies can be more selective about the information they choose to reveal.
Depending on your jurisdiction, there may be specific records you are required to maintain and make available to shareholders on an ongoing basis. For example, businesses are often required to keep accurate and timely accounting records (such as financial statements and auditor reports) for shareholders to inspect upon request.
The amount of information about a corporation that a person is entitled to receive will vary depending on their relationship to the company and their purpose for reviewing the information.
For instance, someone from the general public may have the rights to inspect only a handful of documents if they request the information at least five days in advance and pay an admin fee. On the other hand, a director often has the right to inspect any company record they may need, within a reasonable timeframe, and without cost or restriction.
To confirm what information different people are entitled to receive in your company's jurisdiction, you can refer to your local business laws. Otherwise, depending on who is requesting the information and why, a business may charge an administrative fee or restrict access entirely.
While a Minute Book is typically signed by a company board of directors, the rights of inspection form does not require any signatures.
Sample
Minute Book Rights of Inspection
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