13.1-773 - Court-ordered inspection. - Virginia Statutes

§ 13.1-773. Court-ordered inspection.

A. If a corporation does not allow a shareholder who complies with subsectionA of § 13.1-771 to inspect and copy any records required by that subsectionto be available for inspection, the circuit court in the city or county wherethe corporation's principal office is located, or, if none in thisCommonwealth, where its registered office is located, may summarily orderinspection and copying of the records demanded at the corporation's expenseupon application of the shareholder.

B. If a corporation does not within a reasonable time allow a shareholder toinspect and copy any other record, the shareholder who complies withsubsections C and D of § 13.1-771 may apply to the circuit court in the cityor county where the corporation's principal office is located, or, if none inthis Commonwealth, where its registered office is located, for an order topermit inspection and copying of the records demanded. The court shalldispose 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 corporation to pay the shareholder's costs, includingreasonable counsel fees, incurred to obtain the order if the shareholderproves that the corporation refused inspection without a reasonable basis fordoubt about the right of the shareholder to inspect the records demanded.

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 shareholder.

(1985, c. 522; 2010, c. 782.)