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How to Save Minute Book Rights Of Inspection in DOC

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[Music] hello everyone comment is now the episode 7. yes so today well talk about keeping books and records and the rights of shareholders and directors to inspect the companys books and records welcome to this youtube channel of k leaders im francis chen im carmen chi coleman can you share with us your contents okay so today well talk about keeping books and records whats the legal requirements and also whether directors and shareholders actually have a right to inspect the companys books and records yes so let us take a look now the relevant legal legislations are actually settled in two ordinance first one is the companys ordinance and second one is actually the inland revenue ordinance so under the companys ordinance basically the company needs to keep all their resolutions meetings decisions all their records for at least 10 years and that 10 years starts from the date of the meeting or the decisions as the case may be yes now under the inland revenue ordinance basically

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What information are shareholders entitled to?

Company Finances In addition, shareholders are entitled to be provided, on demand and without charge, with a copy of the companys last annual accounts and the last directors report and any auditors report on those accounts (together with any statement on the auditors report).

Do shareholders have a right to inspect corporate records?

Shareholders are entitled to inspect the companys financial books and records, including, but not limited to, financial statements, shareholder lists, corporate stock ledgers, and meeting minutes.

What are the limits on the shareholders right to inspect corporate records and books?

App. 4th 909, 915.) Although not as broad as directors, shareholders in California corporations have substantial rights of inspection, provided the shareholder owns at least five percent in the aggregate or one percent individually of the outstanding shares of the corporation.

What documents should be in corporate minute book?

What documents make up a minute book? Articles/formation documents/amendments. Bylaws. Resolutions. Shareholder ledger/share transfers. Stock certificates. Shareholders agreement. Meeting minutes. Annual report filings.

Who has the right to inspect the accounting records of the corporation?

Shareholders have the right to inspect a corporations articles of incorporation and bylaws, but only limited rights to inspect accounting books and no right to inspect corporate communications and contracts.

How long should corporate minutes be kept?

A business should keep its minutes for at least seven years, and make them available to members of the corporation (e.g., shareholders, directors, and officers) who make a reasonable request to review them.

Can stockholders access and examine a corporations books and records?

The Corporation Code has granted to all stockholders the right to inspect the corporate books and records, and in so doing has not required any specific amount of interest for the exercise of the right to inspect.

What is a minute book for an LLC?

A minute book refers to the book kept by a limited liability company, corporation, or partnership that contains records of the business entitys actions. It consists of the businesss articles/certificate, bylaws (if any), operating agreement (if any), minutes, or written actions in lieu of meeting minutes.

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