§ 490.1605 — Inspection of records by directors

Iowa § 490.1605

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 490: BUSINESS CORPORATIONS

Text

1. A director of a corporation is entitled to inspect and copy the books, records, and
documents of the corporation at any reasonable time to the extent reasonably related to the
performance of the director’s duties as a director, including duties as a member of a board
committee, but not for any other purpose or in any manner that would violate any duty to
the corporation.

2. The district court of the county where the corporation’s principal office, or if none in
this state, its registered office is located may order inspection and copying of the books,
records, and documents at the corporation’s expense, upon application of a director who has
been refused such inspection rights, unless the corporation establishes that the director is
not entitled to such inspection rights. The court shall dispose of an application under this
subsection on an expedited basis.
3. If an order is issued, the court may include provisions protecting the corporation from
undue burden or expense, and prohibiting the director from using information obtained upon
exercise of the inspection rights in a manner that would violate a duty to the corporation, and
may also order the corporation to reimburse the director for the director’s expenses incurred
in connection with the application.