Amends GS 55-16-02 (Inspection of records by shareholders) to create a right for a qualified shareholder of a corporation to inspect the records of subsidiaries as long as the corporation has actual possession and control of the records, or could obtain the records from the subsidiary (1) without violating any agreements with third parties and (2) if the subsidiary does not have the legal right to deny a request from the corporation. Defines subsidiary in GS 55-16-01.1(5).
Effective and applies to written demands for inspection given on or after October 1, 2023.
INSPECTION RIGHTS REGARDING SUBSIDIARIES.
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| View NCGA Bill Details(link is external) | 2023-2024 Session |
AN ACT TO MODIFY THE RIGHT OF A SHAREHOLDER OF A CORPORATION TO INSPECT THE RECORDS OF A SUBSIDIARY ENTITY OF THAT CORPORATION.Intro. by Sawrey.
Status: Re-ref to Judiciary. If fav, re-ref to Rules and Operations of the Senate (Senate action) (Apr 13 2023)
Bill History:
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Tue, 4 Apr 2023 Senate: Filed(link is external)
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Wed, 5 Apr 2023 Senate: Passed 1st Reading(link is external)
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Thu, 13 Apr 2023 Senate: Withdrawn From Com(link is external)
S 545
Bill Summaries:
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Bill S 545 (2023-2024)Summary date: Apr 4 2023 - View Summary
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