US Laws, Codes, Statutes & Cases

 
  § 1317. Voting trust records.
    (a)    A  voting  trustee, appointed under a voting trust agreement to
  vote the shares of a foreign corporation conducting activities  in  this
  state,  who  either  has  an  office  in  this state or has designated a
  transfer agent within this state,  shall  produce  for  examination  and
  permit  to  be  examined  in  this  state,  at the office of the foreign
  corporation or at his office or at the office of such transfer agent,  a
  record  of  voting  trust certificate holders setting forth their names,
  alphabetically arranged, and addresses, the number and class  of  shares
  represented  by the certificates held by them respectively and the dates
  when they respectively became  the  owners  thereof,  upon  the  written
  demand  of any resident of this state who shall have been a voting trust
  certificate holder or a shareholder of the foreign  corporation  for  at
  least six months immediately preceding his demand, or of any resident of
  this  state  holding,  or thereunto authorized in writing by the holders
  of, at least five percent of any class of the outstanding shares of such
  foreign corporation, either directly  or  as  holders  of  voting  trust
  certificates  for  such shares, subject to the same terms and conditions
  set forth with respect to the right of  examination  of  the  record  of
  members of the foreign corporation in section 1316 (Record of members).
    (b)    The  voting  trustee  shall deposit an exact copy of the voting
  trust agreement with the foreign corporation at its office in this state
  or at the office of the transfer agent in this state.
    (c)  The copy of the voting trust agreement shall be  subject  to  the
  same  right  of  examination  by voting trust certificate holders and by
  shareholders of the foreign corporation as is the record of members of a
  corporation under section 621 (Books and records; right  of  inspection,
  prima facie evidence).
    (d)  Upon refusal by a voting trustee or his transfer agent to produce
  for  examination  or  to  permit  an examination of the record of voting
  trust certificate holders or of such copy of the voting trust  agreement
  as  herein  provided,  the  person  making  the  demand may apply to the
  supreme court, upon such notice as the court may direct,  for  an  order
  directing  the voting trustee or his transfer agent to show cause why an
  order should not be granted directing  such  production  and  permitting
  such  examination.   Upon the return day of the order to show cause, the
  court shall hear the parties summarily, by affidavit or  otherwise,  and
  if  it  appears  that the applicant is entitled to such examination, the
  court shall grant an order compelling such  production  for  examination
  and  awarding  such  further  relief  as  to the court may seem just and
  proper.
    (e)  Where the voting trust agreement shall vest in the voting trustee
  the right to vote the shares of  a  foreign  corporation  which  has  an
  office  in this state for conducting activities and either the principal
  activity of which is conducted within this state or the greater part  of
  its property is located within this state, the voting trust agreement is
  an  express  trust  created under the laws of this state and the supreme
  court upon the  petition  of  a  voting  trust  certificate  holder  may
  exercise  such power over the trustee named therein as is granted to the
  court by section 7-2.6 of the estates, powers and trusts law.