Rhode Island General Laws 7-16-22. Records and information
(a) Each limited-liability company shall keep at its principal office the following:
(1) A current list of the full name and last known business address of each member and manager;
(2) Copies of records that would enable a member to determine the capital values and the relative voting rights of the members;
(3) A copy of the articles of organization and any restatements of the articles and amendments;
(4) Executed copies of any powers of attorney pursuant to which any certificate has been executed;
(5) Copies of the limited-liability company’s federal, state and local income tax returns and reports, if any, for the five most recent years;
(6) A copy of any written operating agreement;
(7) Any written records of proceedings of the members or managers; and
(8) Copies of any financial statements of the limited-liability company for the five most recent years.
Terms Used In Rhode Island General Laws 7-16-22
- Articles of organization: means documents filed under § 7-16-5 for the purpose of forming a limited-liability company. See Rhode Island General Laws 7-16-2
- Business: means any trade, occupation or other commercial activity engaged in for gain, profit or livelihood for which a corporation can be organized under chapter 1. See Rhode Island General Laws 7-16-2
- Executed: means an original signature, facsimile, or an electronically transmitted signature submitted through a medium provided and authorized by the secretary of state. See Rhode Island General Laws 7-16-2
- Managers: means a person or persons designated by the members of a limited-liability company to manage the limited-liability company. See Rhode Island General Laws 7-16-2
- Member: means a person with an ownership interest in a limited-liability company with the rights and obligations specified under this chapter. See Rhode Island General Laws 7-16-2
- Operating agreement: means any agreement, written or oral, of the members as to the affairs of a limited-liability company and the conduct of its business. See Rhode Island General Laws 7-16-2
- State: means a state, territory or possession of the United States, or the District of Columbia. See Rhode Island General Laws 7-16-2
(b) A member may:
(1) At the member’s own expense, inspect and copy any limited-liability company records required to be kept under this section upon reasonable request during ordinary business hours; and
(2) Obtain from time to time, upon reasonable request, information regarding the state of the business and financial condition of the limited-liability company.
(c) The current list of names and addresses of the members shall be made available to the secretary of state, the director of the department of business regulation, or the attorney general, as applicable, within five (5) business days of receipt of a written request by the secretary, director, or attorney general stating that the information is required in connection with an investigatory or enforcement proceeding.
History of Section.
P.L. 1992, ch. 280, § 1; P.L. 1997, ch. 188, § 5.