§ 10-33-80 — Books and records - Financial statement

North Dakota § 10-33-80

• Jurisdiction: North Dakota
• Title 10: Corporations
• Ch. 10-33: Nonprofit Corporations

Text

1. A corporation shall keep at its principal executive office correct and complete copies of
its articles and bylaws, accounting records, voting agreements, and minutes of
meetings of members, board of directors, and committees having any of the authority
of the board of directors for the last six years.
2. A member or a director, or the agent or attorney of a member or a director, may
inspect all records referred to in subsection 1 or 3 for any proper purpose at any
reasonable time. A proper purpose is one reasonably related to the interest of the
person as a member or director of the corporation.
3. Upon request, a corporation shall give the member or the director a statement showing
the financial result of all operations and transactions affecting income and surplus
during its last annual accounting period and a balance sheet containing a summary of
its assets and liabilities as of the closing date of the accounting period.
4. A member or director who has gained access under this section to any corporate
record may not use or furnish to another for use the corporate record or a portion of
the contents for any purpose other than a proper purpose. Upon application of the
corporation, a court may issue a protective order or order other relief as may be
necessary to enforce the provisions of this subsection.
5. The corporation may charge the requesting party a reasonable fee to cover the
expenses of providing copies of records under this section.
6. The records maintained by a corporation may use any information storage technique,
even though the technique makes them illegible visually, if the records can be
converted accurately and within a reasonable time into a form that is legible visually
and whose contents are assembled by related subject matter to permit convenient use
by people in the normal course of business. A corporation shall convert any of the
records referred to in subsection 1 or 3 upon the request of a person entitled to inspect
them with the expense of the conversion being borne by the person who bears the
expense of copying under subsection 5. A copy of the conversion is admissible in
evidence, and must be accepted for all other purposes, to the same extent as the
existing or original records would be if they were legible visually.
7. A member or a director who is wrongfully denied access to or copies of records under
this section may bring an action for injunctive relief, damages, and costs and
reasonable attorney's fees.