KRS 271B.16-020: Inspection of records by shareholders.

(1) A shareholder of a corporation shall be entitled to inspect and copy, during regular

business hours at the corporation's principal office, any of the records of the

corporation described in subsection (5) of KRS 271B.16 -010 if he gives the

corporation written notice of his demand at least five (5) business days before the

date on which he wishes to inspect and copy.

(2) A shareholder of a corporation shall be entitled to inspect and copy during regular

business hours at a reasonable location specified by th e corporation any of the

following records of the corporation if the shareholder meets the requirements of

subsection (3) of this section and gives the corporation written notice of his demand

at least five (5) business days before the date on which he wis hes to inspect and

copy:

(a) Excerpts from minutes of any meeting of the board of directors, records of any

action of a committee of the board of directors while acting in place of the

board of directors on behalf of the corporation, minutes of any meeting of the

shareholders, and records of action taken by the shareholders or board of

directors without a meeting, to the extent not subject to inspection under

subsection (1) of this section;

(b) Accounting records of the corporation; and

(c) The record of shareholders.

(3) A shareholder may inspect and copy the records described in subsection (2) of this

section only if:

(a) His demand is made in good faith and for a proper purpose;

(b) He describes with reasonable particularity his purpose and the records he

desires to inspect; and

(c) The records are directly connected with his purpose.

(4) The right of inspection granted by this section shall not be abolished or limited by a

corporation's articles of incorporation or bylaws.

(5) This section shall not affect:

(a) The right of a shareholder to inspect records under KRS 271B.7 -200 or, if the

shareholder is in litigation with the corporation, to the same extent as any

other litigant;

(b) The power of a court, independently of this chapter, to compel the product ion

of corporate records for examination.

(6) For purposes of this section, "shareholder" includes a beneficial owner whose shares

are held in a voting trust or by a nominee on his behalf.