Bill > H1156

This bill amends Section 22 of Chapter 155 of the General Laws to expand the rights of shareholders to inspect and copy corporate records. The bill allows shareholders to inspect and copy certain corporate records, such as minutes of meetings, accounting records, and the shareholder list, if they give the corporation at least 5 business days' notice and demonstrate that the request is made in good faith and for a proper purpose. The bill also entitles shareholders to inspect and copy the corporation's bylaws and a list of its current directors and officers if they give at least 15 business days' notice. The bill prohibits shareholders from selling or distributing any information or records they obtain through this process, and imposes a civil penalty of $5,000 for any violations.

Business and Industry

https://malegislature.gov/Bills/192/H1156