Bill > H2970

This bill amends Section 22 of Chapter 155 of the General Laws to expand the rights of shareholders to inspect and copy certain corporate records. The key provisions include: (1) Shareholders can inspect and copy records described in Section 16.01 of Chapter 156D, such as meeting minutes and accounting records, by providing 5 business days' notice; (2) Shareholders can inspect and copy other records, like the shareholder list and bylaws, by providing 15 business days' notice; (3) Corporations can deny requests for improper purposes or from shareholders who have misused information in the past; and (4) Shareholders cannot sell or distribute inspected information, with violations subject to a $5,000 civil penalty.

Business and Industry

https://malegislature.gov/Bills/190/H2970