2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1602 - INSPECTION OF RECORDS BY SHAREHOLDERS.

        490.1602  INSPECTION OF RECORDS BY SHAREHOLDERS.
         1.  A shareholder of a corporation is entitled to inspect and
      copy, during regular business hours at the corporation's principal
      office, any of the records of the corporation described in section
      490.1601, subsection 5, if the shareholder gives the corporation
      written notice of the shareholder's demand at least five business
      days before the date on which the shareholder wishes to inspect and
      copy.
         2.  A shareholder of a corporation is entitled to inspect and
      copy, during regular business hours at a reasonable location
      specified by the corporation, any of the following records of the
      corporation if the shareholder meets the requirements of subsection 3
      and gives the corporation written notice of the shareholder's demand
      at least five business days before the date on which the shareholder
      wishes to inspect and copy any of the following:
         a.  Excerpts from minutes of any meeting of the board of
      directors, records of any action of a committee of the board of
      directors while acting in place of the board of directors on behalf
      of the corporation, minutes of any meeting of the shareholders, and
      records of action taken by the shareholders or board of directors
      without a meeting, to the extent not subject to inspection under
      subsection 1 of this section.
         b.  Accounting records of the corporation.
         c.  The record of shareholders.
         3.  A shareholder may inspect and copy the records described in
      subsection 2 only if:
         a.  The shareholder's demand is made in good faith and for a
      proper purpose.
         b.  The shareholder describes with reasonable particularity
      the shareholder's purpose and the records the shareholder desires to
      inspect.
         c.  The records are directly connected with the shareholder's
      purpose.
         4.  The right of inspection granted by this section shall not be
      abolished or limited by a corporation's articles of incorporation or
      bylaws.
         5.  This section does not affect either of the following:
         a.  The right of a shareholder to inspect records under
      section 490.720 or, if the shareholder is in litigation with the
      corporation, to the same extent as any other litigant.
         b.  The power of a court, independently of this chapter, to
      compel the production of corporate records for examination.  

         89 Acts, ch 288, §176
         Referred to in § 490.720, 490.1603, 490.1604