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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 870. Inspection of Records.
previous: Section 860
. Maintenance of Records.
next: Section 880
. Disclosure of Information.
AS 10.50.870. Inspection of Records.
- (a) A limited liability company shall make its books and records of account, or certified copies of them, reasonably
available for inspection and copying at its registered office or principal office in the state by a member of the
company. Member 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 members directly connected to the stated purpose of the
inspection may be inspected or copied.
- (b) A manager, or, if the company is not managed by a manager, a member, who, or a limited liability company that, refuses
to allow a member, or the agent or attorney of the member, to examine and make copies from its books and records of
account, minutes, and record of members, for a proper purpose, is liable to the member for a penalty in the amount of
10 percent of the value of the limited liability company interests owned by the member or $5,000, whichever is greater,
in addition to other damages or remedy given the member 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 members of the company or any
other limited liability company or has aided or abetted a person in procuring a list of members for this purpose, or
has improperly used information secured through a prior examination of the books and records of account, minutes, or
record of members of the company or any other limited liability company, or was not acting in good faith or for a
proper purpose in making the person's demand.
- (c) Nothing in this chapter impairs the power of a court, upon proof by a member of a demand properly made and for a
proper purpose, to compel the production for examination by the member of the books and records of account, minutes,
and record of members of a limited liability company.
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