§ 4-404. Statement of affairs

Latest version.

(a) Stockholders' right to request. -- Once during each calendar year, each stockholder of a close corporation may present to any officer of the corporation a written request for a statement of its affairs.

(b) Duty to prepare and file; verification. -- Within 20 days after a request is made for a statement of a close corporation's affairs, the corporation shall prepare and have available on file at its principal office a statement verified under oath by its president or treasurer or one of its vice-presidents or assistant treasurers which sets forth in reasonable detail the corporation's assets and liabilities as of a reasonably current date.

HISTORY: An. Code 1957, art. 23, § 108; 1975, ch. 311, § 2; 1986, ch. 5, § 1.

                    
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