181.1602 Inspection of records by members.

WISCONSIN STATUTES AND CODES

181.1602 Inspection of records by members.

181.1602

181.1602(1)

(1) Records at principal office. Subject to s. 181.1603 (3), a member is entitled to inspect and copy, at a reasonable time and location specified by the corporation, any of the records of the corporation described in s. 181.1601 (5) if the member gives the corporation written notice or a written demand at least 5 business days before the date on which the member wishes to inspect and copy.

181.1602(2)

(2) Other records that may be inspected. A member is entitled to inspect and copy, at a reasonable time and reasonable location specified by the corporation, any of the following records of the corporation if the member meets the requirements of sub. (3) and gives the corporation written notice at least 5 business days before the date on which the member wishes to inspect and copy:

181.1602(2)(a)

(a) Excerpts from any records required to be maintained under s. 181.1601 (1), to the extent not subject to inspection under sub. (1).

181.1602(2)(b)

(b) Accounting records of the corporation.

181.1602(2)(c)

181.1602(3)

(3) When other records may be inspected. A member may inspect and copy the records identified in sub. (2) only if all of the following apply:

181.1602(3)(a)

(a) The member's demand is made in good faith and for a proper purpose.

181.1602(3)(b)

(b) The member describes with reasonable particularity the purpose and the records the member desires to inspect.

181.1602(3)(c)

181.1602(4)

(4) Applicability. This section does not affect any of the following:

181.1602(4)(a)

(a) The right of a member to inspect records under s. 181.0720 or, if the member is in litigation with the corporation, to the same extent as any other litigant.

181.1602(4)(b)

(b) The power of a court, independently of this chapter, to compel the production of corporate records for examination.

181.1602 - ANNOT.

History: 1997 a. 79.