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Do all shareholders, ( 3 shareholder corporation) have the…

Do all shareholders, (...

Do all shareholders, ( 3 shareholder corporation) have the right to inspect the bank accounts? (florida corporation)

Lawyer's Assistant: Has anything been officially filed? If so, what?

Just the with Sunbiz, the articles just say who the shareholders are and their titles (pres. Vice Pres. Director) no other agreement exist in writing, however it was agreed upon orally)

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10/24/2017
Dwayne B.
Dwayne B., Attorney
Category: Business Law
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Experience: Practicing for over 20 years and helped a number of businesses with litigation.
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Please allow me several minutes to read your facts and type my response both initially and when you add a follow up question or add facts. Please don't ask "are you there", etc., since when you post it can erase what I am working on. If we are having a conversation unless I tell you I am going offline, I will be here but I may be doing research.

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Shareholders have the right to inspect a corporation's articles of incorporation and bylaws, but only have very limited rights to inspect bank accounts and the accounting books and no right to inspect corporate communications and contracts.

If you decide you want to inspect the bank accounts then you will have to write a letter to the CEO or the Secretary of the Corporation and ask permission. They will then pass the letter to the corporate attorney. In every situation I have ever seen a lawsuit is then filed and the court, if they determine you have valid reasons, will enter a protective order stating where you can inspect certain books and then advising that you can't discuss or mention what you see with anyone else (known as a protective order).

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a 5 Star Positive Rating so I receive credit for my work. Of course, please feel free to ask any follow-up questions in this thread. I want to be sure all of your questions are answered.

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Customer reply replied 8 months ago
There is just three of us, the officers and the shareholders are the same. Two of them got together without notice to me and decided to keep me off the bank accounts, even for examination. Additionally their is a Florida Iota Trust account, that I am not allowed to inspect. I am the founder of the firm, to add the last partner was my idea. They had a secrete meeting without me and are refusing me to look at the books. I already discovered they are working on cases without my knowledge. Does this change anything?

No, not with a majority still not wanting you to look at the books. If you have a lawyer send them a letter then the corporate lawyer is likely to try and work out a deal with a protective order rather than going to court. They can also threaten to try and recover the attorneys fees from the two who aren't letting you look.

You do want to look at the bylaws and the other corporate records to be sure that they don't allow you to look at the records just by asking. That hasn't been standard in business agreements for a long time now, but it is still worth looking.

Dwayne B.
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