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36 U.S.C. § 150411Records and inspection

submitted 3 years ago by Pub. L. 118-31 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 163 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation must keep accurate financial records, meeting minutes, and a list of voting members' names and addresses. Any voting member, or their agent or lawyer, can inspect these records for a proper reason at a reasonable time.

(a) Records. The corporation must keep three things: correct and complete books and records of accounts; minutes of any proceeding involving a member, the board of directors, or a committee that has authority from the board; and, at its main office, a record of the names and addresses of every member who has the right to vote. (b) Inspection. (1) In general, any member with voting rights, or that member's agent or attorney, can inspect all the corporation's books and records, as long as they have a proper purpose and do it at a reasonable time. (2) Effect. This inspection right does not override the laws of the jurisdiction where the corporation is incorporated, or the laws of any U.S. state or territory where the corporation carries out its activities.
the actual law source: uscode.house.gov ↗public domain
(a)Records.—

The corporation shall keep—

(1)

correct and complete books and records of accounts;

(2)

minutes of any proceeding of the corporation involving any member of the corporation, the board of directors, or any committee having authority under the board of directors; and

(3)

at the principal office of the corporation, a record of the names and addresses of all members of the corporation having the right to vote.

(b)Inspection.—
(1)In general.—

All books and records of the corporation may be inspected by any member having the right to vote, or by any agent or attorney of such a member, for any proper purpose, at any reasonable time.

(2)Effect.—

Nothing in this section contravenes—

(A)

the laws of the jurisdiction under which the corporation is incorporated; or

(B)

the laws of those jurisdictions within the United States and its territories within which the corporation carries out activities in furtherance of the purposes of the corporation.

Source credit: (Added Pub. L. 118–31, div. E, title LI, § 5103(a), Dec. 22, 2023, 137 Stat. 937.)

history & why it existsrecord from the source credit
  • 2023Enacted · Pub. L. 118-31 · 137 Stat. 937

A history note hasn’t been published yet. The record shows enactment by Pub. L. 118-31 on 2023-12-22.

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