§ 17-16-1602 — Inspection of records by shareholders

Wyoming § 17-16-1602

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 16: RECORDS AND REPORTS

Text

(a) A shareholder of a corporation is entitled to inspect
and copy, during regular business hours at the corporation's
principal office, any of the records of the corporation
described in W.S. 17-16-1601(e) if the shareholder gives the
corporation written notice of the shareholder's demand at least
five (5) business days before the date on which the shareholder
wishes to inspect and copy.
(b) A shareholder who has been of record for at least six
(6) months immediately preceding his demand and who shall be the
holder of record of at least five percent (5%) of all the
outstanding shares of a corporation is entitled to inspect and
copy, during regular business hours at a reasonable location
specified by the corporation, any of the following records of
the corporation if the shareholder meets the requirements of
subsection (c) of this section and gives the corporation written
notice of the shareholder's demand at least five (5) business
days before the date on which the shareholder wishes to inspect
and copy:
(i) Excerpts from minutes of any meeting of the board
of directors, records of any action of a committee of the board
of directors while acting in place of the board of directors on
behalf of the corporation, minutes of any meeting of the
shareholders, and records of action taken by the shareholders or
board of directors without a meeting, to the extent not subject
to inspection under W.S. 17-16-1602(a);
(ii) Accounting records of the corporation; and
(iii) The record of shareholders.
(c) A shareholder may inspect and copy the records
described in subsection (b) of this section only if:
(i) The shareholder's demand is made in good faith
and for a proper purpose;
(ii) The shareholder describes with reasonable
particularity his purpose and the records he desires to inspect;
and
(iii) The records are directly connected with the
shareholder's purpose.
(d) The right of inspection granted by this section may
not be abolished or limited, but may be expanded, by a
corporation's articles of incorporation or bylaws.
(e) This section does not affect:
(i) The right of a shareholder to inspect records
under W.S. 17-16-720 or, if the shareholder is in litigation
with the corporation, to the same extent as any other litigant;
or
(ii) The power of a court, independently of this act,
to compel the production of corporate records for examination.
(f) For purposes of this section, "shareholder" includes a
beneficial owner whose shares are held in a voting trust or by a
nominee on his behalf.