Charles owns 1,000 shares of stock in Temperan,Inc.Charles wants to obtain corporate records including the corporation's minute book and accounting records.Under the Model Act,Charles is entitled to this information if he requests it in good faith and
A)he has a proper purpose.
B)he owns at least 1 percent of the company or $2,000 of stock.
C)he is an employee of Temperan.
D)he is a controlling shareholder.

Question

Quizplus · Accepted Answer

According to the Model Act, shareholders have the right to inspect corporate records if they request it in good faith and have a proper purpose. Ownership percentage or amount of stock owned is not a requirement for this right. Being an employee or controlling shareholder also does not automatically grant this right.

Charles Owns 1,000 Shares of Stock in Temperan,Inc