2005 Idaho Code - 30-1-1602 — INSPECTION OF RECORDS BY SHAREHOLDERS

                                  TITLE  30
                                 CORPORATIONS
                                  CHAPTER 1
                        GENERAL BUSINESS CORPORATIONS
                                   PART 16.
                             RECORDS AND REPORTS
    30-1-1602.  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 30-1-1601(5), Idaho Code, if he gives the corporation
written notice of his demand at least five (5) business days before the date
on which he 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) of this section and gives
the corporation written notice of his demand at least five (5) days before the
date on which he wishes to inspect and copy:
    (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 section 30-1-1602(1), Idaho Code;
    (b)  Accounting records of the corporation; and
    (c)  The record of shareholders.
    (3)  A shareholder may inspect and copy the records described in
subsection (2) of this section only if:
    (a)  He has been a holder of record of shares or of voting trust
    certificates for at least six (6) months immediately preceding his demand
    or shall be the holder of record of, or the holder of record of voting
    trust certificates for, at least five percent (5%) of all the outstanding
    shares of the corporation;
    (b)  His demand is made in good faith and for a proper purpose;
    (c)  He describes with reasonable particularity his purpose and the
    records he desires to inspect; and
    (d)  The records are directly connected with his purpose.
    (4)  The right of inspection granted by this section may not be abolished
or limited by a corporation's articles of incorporation or bylaws.
    (5)  This section does not affect:
    (a)  The right of a shareholder to inspect records under section 30-1-720,
    Idaho Code, 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.
    (6)  For purposes of this section, "shareholder" includes a beneficial
owner whose shares are held in a voting trust or by a nominee on his behalf.