Free Minute Book Rights of Inspection

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Minute Book Rights of Inspection

Virginia


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Different states have different rules and regulations. Your Minute Book Rights of Inspection will be customized for Virginia.


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Your Minute Book Rights of Inspection

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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:

  • Notice of Directors
  • Notice of Change of Director
  • Securities Register

Inspection by Creditors

A creditor may request to inspect during regular business hours with proper purpose and without restriction:

  • All of the above
  • Certificate of Incorporation, Continuance and Amalgamation
  • Articles of Incorporation and any amendments
  • Bylaws and any amendments
  • Annual Reports

Inspection by Shareholder

A Shareholder may request to inspect during regular business hours with proper purpose and without cost or restriction:

  • All of the above
  • Unanimous Shareholder Agreement and any amendments
  • Financial Statements, Auditor's Reports and any financial information required by Articles, Bylaws or Statute
  • Disclosure Register
  • Annual Reports

Inspection by Director

A Director may request to inspect at any reasonable time with proper purpose and without cost or restriction:

  • All of the above
  • Physical properties or assets
  • Records of any subsidiary
  • Corporate Records and Books of Account
  • Directors' Minutes and Resolutions
  • Annual Reports

Notes and Comments on Inspection Rights

  1. In all cases, the inspection rights afforded will apply also to the designated representative of the party, including but not limited to accountants, agents and attorneys of the Party, where the designated representative is accompanied by the Party at all times and where reasonable. All information obtained by the Party and the Party's designated representative will be kept confidential and not used for any other purpose other than the stated proper purpose.
  2. In all cases, the inspection rights afforded will include the right to copy and make extracts.
  3. In all cases, the inspection rights will be withheld where allowed by law and where the information is to be used against the Corporation or in any manner detrimental to the Corporation.
  4. In the case of Public Rights of Inspection or Creditor Rights of Inspection, the Corporation reserves the right to charge a reasonable administrative fee to prepare the requested documentation.
  5. In the case of Public Rights of Inspection, Creditor Rights of Inspection and Shareholder Rights of Inspection, the inspection rights will be exclusive of:
    1. any trade secrets;
    2. information maintained as confidential by law or by third party agreement; and
    3. any other information that in the good faith belief of the Directors or the Officers of the Corporation is not in the best interest of the Corporation to release.
  6. Where a Director has a conflict of interest relating to a specific matter and the information sought relates to that conflict, the inspection right will be withheld.
  7. The inspection rights are expanded as required by any applicable legislation.
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