§ 23-1-52-4 — Court order for inspection and copying; costs; restrictions

Indiana § 23-1-52-4

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 52: Records

Text

(a) If a corporation does not allow a
shareholder who complies with section 2(a) of this chapter to inspect
and copy any records required by that subsection to be available for
inspection, the circuit or superior court of the county where the
corporation's principal office (or, if none in Indiana, its registered
office) is located may order inspection and copying of the records
demanded at the corporation's expense upon application of the
shareholder.
(b) If a corporation does not within a reasonable time allow a
shareholder to inspect and copy any other record, the shareholder who
complies with sections 2(b) and 2(c) of this chapter may apply to the
circuit or superior court in the county where the corporation's principal
office (or, if none in Indiana, its registered office) is located for an
order to permit inspection and copying of the records demanded. The
court shall dispose of an application under this subsection on an
expedited basis.
(c) If the court orders inspection and copying of the records
demanded, it shall also order the corporation to pay the shareholder's
costs (including reasonable counsel fees) incurred to obtain the order
unless the corporation proves that it refused inspection in good faith
because it had a reasonable basis for doubt about the right of the
shareholder to inspect the records demanded.
(d) If the court orders inspection and copying of the records
demanded, it shall impose the restrictions provided by section 5 of this
chapter on the use and distribution of the records by the demanding
shareholder.

Legislative History

As added by P.L.149-1986, SEC.36.