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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 430. Books and Records.
previous: Section 428
. Shareholders' Preemptive Rights.
next: Section 433
. Annual Report to Shareholders; Content; Financial Statement On Request.
AS 10.06.430. Books and Records.
- (a) A corporation organized under this chapter shall keep correct and complete books and records of account, minutes of
proceedings of its shareholders, board, and committees of the board, and a record of its shareholders, containing the
names and addresses of all shareholders and the number and class of the shares held by each. The books and records of
account, minutes, and the record of shareholders may be in written form or in any other form capable of being converted
into written form within a reasonable time.
- (b) A corporation organized under this chapter shall make its books and records of account, or certified copies of them,
reasonably available for inspection and copying at the registered office or principal place of business in the state by
a shareholder of the corporation. Shareholder inspection shall be upon written demand stating with reasonable
particularity the purpose of the inspection. The inspection may be in person or by agent or attorney, at a reasonable
time and for a proper purpose. Only books and records of account, minutes, and the record of shareholders directly
connected to the stated purpose of the inspection may be inspected or copied.
- (c) An officer or agent who, or a corporation that, refuses to allow a shareholder, or the agent or attorney of the
shareholder, to examine and make copies from its books and records of account, minutes, and record of shareholders, for
a proper purpose, is liable to the shareholder for a penalty in the amount of 10 percent of the value of the shares
owned by the shareholder or $5,000, whichever is greater, in addition to other damages or remedy given the shareholder
by law. It is a defense to an action for penalties under this section that the person suing has within two years sold
or offered for sale a list of shareholders of the corporation or any other corporation or has aided or abetted a person
in procuring a list of shareholders for this purpose, or has improperly used information secured through a prior
examination of the books and records of account, minutes, or record of shareholders of the corporation or any other
corporation, or was not acting in good faith or for a proper purpose in making the person's demand.
- (d) Nothing in this chapter impairs the power of a court, upon proof by a shareholder of a demand properly made and for a
proper purpose, to compel the production for examination by the shareholder of the books and records of account,
minutes, and record of shareholders of a corporation.
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