Texas statutes protect a shareholder’s right to inspect corporate books and records and provide penalties for violations of that right. See Tex. Bus. Orgs. Code § 21.218 (examination of records); § 21.219 (annual and interim statements of corporation); and § 21.222 (penalty for refusal to permit examination of certain records). Texas statutes also protect a member’s right to inspect LLC books and records. See Tex. Bus. Orgs. Code § 3.153 (right of examination by owner or member); and §101.502 (right to examine records and certain other information).
Most states have laws that permit shareholders and LLC members to inspect and copy relevant company books and records.
If you believe you need legal counsel to assist you in asserting your right to inspect corporate or LLC books and records, please contact Mr. Browning for a free phone consultation.