Appellate Court Upholds Unique Method for Shareholders to Access Records
When a minority shareholder in a corporation seeks financial and management records, the shareholder must make a statutory “books and records” request or rely on provisions in a shareholder agreement or corporate by-laws. A recent appellate court case upheld yet a third way for aggrieved shareholders to obtain corporate books and records. It is called […]
Do Members of LLCs Owe A Fiduciary Duty To Each Other in CT?
A limited liability company is essentially a combination or mix of a corporation and a partnership. The LLC as an entity provides the flexibility of a partnership with the ability to govern and create ownership interests similar to a corporation. The legislature codified the framework for LLCs in Connecticut in Title 34, Chapter 613 of […]
Some Guidance From Delaware On Seeking Corporate Books and Records in Connecticut
If you own shares of a corporation or an interest in a limited liability company, there are two basic sources in Connecticut concerning your rights to have access to company books and records. The first source may be found in any agreements that concern governance of the company such as the by-laws of a corporation or the operating of a limited liability company. The second […]