Shareholder Rights

Discover the legal avenues available to shareholders for accessing vital company records in this insightful podcast clip. Under Minnesota statutory law, shareholders possess the right to request books and records essential for transparency and oversight. Failure to comply with such requests constitutes a violation of the law itself.

From the Divided Dynasties Family Business Podcast:
Join seasoned family business dispute attorneys Mark Briol & Scott Benson as they explore the intricacies of family business conflicts, providing tips for family businesses in transition. Each episode they dive into the unique challenges and conflicts that arise within family-run companies. This episode, Mark and Scott delve into the complexities of family businesses and the challenges faced by minority shareholders. Learn about the warning signs, legal rights, and the journey towards reclaiming control.

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🔎 Key Insights:

📚 Shareholder Rights: Minnesota statutory law grants shareholders the right to request access to company records, including financial statements and meeting minutes.

🪞 Transparency and Oversight: Access to company records is essential for transparency, oversight, and upholding shareholder rights.

Transcript:
Scott Benson: Minnesota statutory law allows shareholders to request the books and records. Not providing those books and records that are demanded to be available to shareholders under the law is a violation of the law itself. And with Mark, we're discussing how do you get at the emails and text messages and those kinds of things. Those really don't come out until after you sued the other side and have discovery requests and probably motions to compel and all of those things in order to draw out that evidence. But the first thing we would do is ask for those books and records, records of shareholder meetings, records of balance sheets and any kind of financial information that the company has. And the shareholders are entitled to that.

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[krissy_]

Am I supposed to be able to receive a copy of these records and take them home or just be allowed to see them?