Asked by Shubhansh Singh on Jun 18, 2024

verifed

Verified

The Revised Act provides that every shareholder is entitled to examine specified corporate records upon prior signed written request if the demand is made in good faith, for a proper purpose, and during regular business hours at the corporation's principal office.

Revised Act

An updated or amended version of legislative acts or statutes.

Shareholder

An individual or entity that owns shares in a company, thus holding a portion of the company's equity and potentially influencing its decisions.

Corporate Records

Documents and records that a corporation is legally required to maintain, usually including incorporation papers, bylaws, meeting minutes, and financial statements.

  • Acquire knowledge of the regulatory conditions governing the examination of corporate logs, the selection of board members, and the application of corporate entitlements.
verifed

Verified Answer

AW
aaries woodsJun 24, 2024
Final Answer :
True
Explanation :
The Revised Model Business Corporation Act (RMBCA) allows shareholders to inspect and copy certain corporate records, including minutes of shareholder meetings, accounting records, and the record of shareholders, provided the request is made in good faith, for a proper purpose, and at a reasonable time, typically during regular business hours at the corporation's principal office. This provision is designed to ensure transparency and accountability by granting shareholders access to important corporate information.