13.1-1281 - Court-ordered inspection. - Virginia Statutes

§ 13.1-1281. Court-ordered inspection.

A. If a business trust does not allow a beneficial owner who complies withsubsection A of § 13.1-1279 to inspect and copy any records required by thatsubsection to be available for inspection, the circuit court in the city orcounty where the business trust's principal office is located, or, if none inthis Commonwealth, where its registered office is located, may summarilyorder inspection and copying of the records demanded at the business trust'sexpense upon application of the beneficial owner.

B. If a business trust does not within a reasonable time allow a beneficialowner to inspect and copy any other record, the beneficial owner who complieswith subsections B and C of § 13.1-1269 may apply to the circuit court in thecity or county where the business trust's principal office is located, or, ifnone in this Commonwealth, where its registered office is located, for anorder to permit inspection and copying of the records demanded. The courtshall dispose of an application under this subsection on an expedited basis.

C. If the court orders inspection and copying of the records demanded, it mayalso order the business trust to pay the beneficial owner's costs, includingreasonable counsel fees, incurred to obtain the order if the beneficial ownerproves that the business trust refused inspection without a reasonable basisof doubt about the right of the beneficial owner to inspect the recordsdemanded.

D. If the court orders inspection and copying of the records demanded, it mayimpose reasonable restrictions on the use or distribution of the records bythe demanding beneficial owner.

(2002, c. 621.)