2020 Colorado Revised Statutes
Title 7 - Corporations And Associations
Article 116. Records, Information, and Reports
Section 7-116-104. Court-ordered inspection of corporate records.
(1) If a corporation refuses to allow a shareholder, or the shareholder's agent or attorney, who complies with section 7-116-102 (1) to inspect or copy any records that the shareholder is entitled to inspect or copy by said section, the district court for the county in this state in which the street address of the corporation's principal office is located or, if the corporation has no principal office in this state, the district court for the county in which the street address of its registered agent is located or, if the corporation has no registered agent, the district court for the city and county of Denver may, on application of the shareholder, summarily order the inspection or copying of the records demanded at the corporation's expense.
If a corporation refuses to allow a shareholder, or the shareholder's agent or attorney,who complies with section 7-116-102 (2) and (3) to inspect or copy any records that the shareholder is entitled to inspect or copy by section 7-116-102 (2) and (3) within a reasonable time following the shareholder's demand, the district court for the county in this state in which the street address of the corporation's principal office is located or, if the corporation has no principal office in this state, the district court for the county in which the street address of its registered agent is located or, if the corporation has no registered agent, the district court for the city and county of Denver may, on application of the shareholder, summarily order the inspection or copying of the records demanded.
If a court orders inspection or copying of the records demanded, unless the corporation proves that it refused inspection or copying in good faith because it had a reasonable basis for doubt about the right of the shareholder or the shareholder's agent or attorney to inspect or copy the records demanded:
The court shall also order the corporation to pay the shareholder's costs, includingreasonable counsel fees, incurred to obtain the order;
The court may order the corporation to pay the shareholder for any damages theshareholder incurred;
If inspection or copying is ordered pursuant to subsection (2) of this section, the courtmay order the corporation to pay the shareholder's inspection and copying expenses; and (d) The court may grant the shareholder any other remedy provided by law.
(4) If a court orders inspection or copying of records demanded, it may impose reasonable restrictions on the use or distribution of the records by the demanding shareholder.
Source: L. 93: Entire article added, p. 846, § 1, effective July 1, 1994. L. 96: (1) and (2) amended, p. 1327, § 48, effective June 1. L. 2003: (1) and (2) amended, p. 2331, § 275, effective July 1, 2004.
