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Yesterday, I asked a question regarding the requirement to

Customer Question
produce documents to a shareholder...
Yesterday, I asked a question regarding the requirement to produce documents to a shareholder of an s corp. The answer was yes we have to provide documents. Now I want to know do I have to provide all requested like the capital contributions of others or the
lack of capital contribution of other stock holders. does the law specifiy what documents
are required. The s corporation officers want to get reimburesed by the requesting stock holder for the work required because the requestor stock holder is asking for documents from 1/1/2000 ten years ago. is there a time limit that the s corp is obligated to produce
documents? DOES THE SCORP HAVE TO GO BACK SO MANY YEARS. THERE MUST BE A TIME LIMIT?
Submitted: 7 years ago.Category: Business Law
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Answered in 7 hours by:
8/3/2010
Business Lawyer: Law Educator, Esq., Attorney replied 7 years ago
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,092
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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The law specifies that the corporate books, balance sheets and minutes of meetings need to be disclosed. As far as personal investment information from each shareholder, this is not something that needs to be revealed unless they sue for devaluing stock prices and then you would have to disclose it. The furthest back the corporation would be liable for holding their books is 7 years, not 10 years. At this point it appears they are seeking some serious information, so you should consider getting your corporate attorney involved before you surrender to their demands.


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Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,092
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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