(a) Each corporation shall keep:
(1) Adequate and correct books and records of account;
Terms Used In California Corporations Code 6320
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) Minutes of the proceedings of its members, board and committees of the board; and
(3) A record of its members giving their names and addresses and the class of membership held by each.
(b) Those minutes and other books and records shall be kept either in written form or in any other form capable of being converted into clearly legible tangible form or in any combination of the foregoing. When minutes and other books and records are kept in a form capable of being converted into clearly legible paper form, the clearly legible paper form into which those minutes and other books and records are converted shall be admissible in evidence, and accepted for all other purposes, to the same extent as an original paper record of the same information would have been, provided that the paper form accurately portrays the record.
(Amended by Stats. 2004, Ch. 254, Sec. 19. Effective January 1, 2005.)