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.