Missouri Laws 355.826 – Member’s inspection of records
1. Subject to subsection 3 of section 355.831, a member, or resident of a class of residents who have paid into the corporation for services or other charges over fifty percent of the corporation‘s operating expenses, is entitled to inspect and copy, subject to subsections 2 and 3 of this section, at a reasonable time and location specified by the corporation, any of the records of the corporation required by this act* if the member or resident gives the corporation written notice or a written demand at least five business days before the date on which the member or resident wishes to inspect and copy.
2. Subject to subsection 5 of this section, a member or resident of a class of residents who have paid into the corporation for services or other charges over fifty percent of the corporation’s operating expenses is entitled to inspect and copy, at a reasonable time and reasonable location specified by the corporation, any of the following records of the corporation if the member or resident gives the corporation written notice at least five business days before the date on which the member or resident wishes to inspect and copy:
Terms Used In Missouri Laws 355.826
- articles: amended and restated articles of incorporation and articles of merger. See Missouri Laws 355.066
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- board of directors: the board of directors except that no person or group of persons is the board of directors because of powers delegated to that person or group pursuant to section 355. See Missouri Laws 355.066
- Bylaws: the code or codes of rules, other than the articles, adopted pursuant to this chapter for the regulation or management of the affairs of the corporation, irrespective of the name or names by which such rules are designated. See Missouri Laws 355.066
- Class: a group of memberships which have the same rights with respect to voting, dissolution, redemption and transfer. See Missouri Laws 355.066
- 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.
- Corporation: public benefit and mutual benefit corporations. See Missouri Laws 355.066
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Member: without regard to what a person is called in the articles or bylaws, any person or persons who on more than one occasion, pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See Missouri Laws 355.066
- Public benefit corporation: a domestic corporation which is formed as a public benefit corporation pursuant to sections 355. See Missouri Laws 355.066
- Resident: a full-time resident of a long-term care facility or residential care facility. See Missouri Laws 355.066
(1) Any records required to be maintained under subsection 1 of section 355.821, to the extent not subject to inspection under subsection 1 of section 355.826; and
(2) Financial statements of the corporation.
3. A member or resident may inspect and copy the records identified in this section only if:
(1) The member or resident describes with reasonable particularity the purpose and the records the member or resident desires to inspect; and
(2) The records are directly connected with this purpose.
4. This section does not affect:
(1) The right of a member to inspect records under section 355.271 or, if the member is in litigation with the corporation, to the same extent as any other litigant; or
(2) The power of a court, independently of the provisions of this chapter, to compel the production of corporate records for examination.
5. The articles or bylaws of a public benefit corporation which is a church or convention or association of churches may limit or abolish the right of a member under this section to inspect and copy any corporate record. This subsection shall not apply to residents or a class of residents of a religious corporation when such residents have paid into the corporation for services or other charges in excess of fifty percent of the corporation’s operating expenses.
6. When a corporation has no members and makes provision for a self-perpetuating board of directors, any recipient or beneficiary of the services or activities of such corporation may inspect and copy the books and records of such corporation under the same conditions and rights as provided for a member. A recipient or beneficiary may designate an agent or attorney for the purpose of conducting such inspection and making such copies.