§ 7-63-115 — Information and accounting

(1) Each member has the right to:

(a) Inspect and copy the books and records of account, the records of the
contributions and holdings of the members and their transferees and other
successors, the bylaws, and the minutes of the members and of the managers;

(b) Obtain from the managers true and full information regarding the state of
the business and the financial condition of the association and any other
information regarding the affairs of the association;

(c) Obtain copies from the managers, upon becoming available, of the
association's federal, state, and local income tax returns for each year; and

(d) Have a formal accounting of association affairs whenever circumstances
render it just and reasonable.

(2) Subsection (1) of this section is a default rule, subject to the bylaws.

Legislative History

Source: L. 95: Entire article added, p. 799, � 18, effective May 24.