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Hi, I’m Reed Bloodworth, the managing partner
of Bloodworth Law with offices in Orlando,
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and Winter Haven, Florida.
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We handle a wide range of business litigation
including shareholder agreements and the resolution
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of shareholder disputes.
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Today, I’m going to talk about inspection
rights of a company shareholder.
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What inspection rights do you have and how
do you request a review information as a shareholder?
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In Florida, shareholders have the right to
inspect their company’s financial records
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and the books of their company.
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Before, or in conjunction with filing a lawsuit,
a shareholder can demand inspection of:
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• Bonus and salary payments to personnel
• A disclosure of lawsuits filed against
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the corporation
• Accounting records
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• Corporation bylaws
• Corporation records and books
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• Records of actions that were taken without
a meeting
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• Vendor payments
• Shareholders records
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• Business addresses and names of the corporation’s
directors and officers
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• Minutes of meetings for:
o Shareholders
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o The board of directors, and, any committees.
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So, how do you exercise these rights as a
shareholder?
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Shareholder agreements and Florida Statutes
control how you request this information.
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In order for a shareholder to make a demand
on the corporation for inspection of the books
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and records, it should be in good faith and
for a proper purpose -- one that’s intended
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to protect the shareholder’s interests,
that is not contrary to the interest of the
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corporation, and is lawful.
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If a party has violated the terms of a shareholder
agreement, and you have sustained financial
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losses because of this violation of terms,
you should not pursue actions without experienced
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legal representation.
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Resolving shareholder disputes can include
negotiation, litigation, arbitration, or mediation.
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These often involve complex issues, and a
shareholder should begin this process without
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an attorney who works in this area.
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Again, I’m Reed Bloodworth, the managing
partner of Bloodworth Law.
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If you have a legal dispute involving your
rights as a shareholder, give me a call.
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Let’s talk about how Bloodworth Law can
help you, your family, or your business.
