2. The rights of shareholders
2.2 right to information and inspection Right to information :The shareholder has the right to keep himself informed about the financial and operational conditions of the corporations. Right to inspection: The shareholder has a right to inspect corporate records and documents such as shareholder lists, minutes of meetings, financial statements, and even contracts. The inspection must occur at proper times and in the proper places and, most important, must be for proper purposes.
Case Tatko owns about 2% of the shares of Tatko Brothers Slate co. Pursuant to the shareholders’ agreement, if Tatko wishes to sell his shares he is obligated to offer them first to Tatko Brothers co. at “book value”(账面值). The book value is to be determined by resort to the annual balance sheet prepared by the corporation. When Tatko informed the corporation of his interest in selling his shares, he was furnished with the corporation’s latest financial report, which contained a balance sheet listing assets, liabilities and portions of the minutes from a 1973 shareholders’ mபைடு நூலகம்eting. The accountants warned that they had neither audited nor reviewed the financial statements and expressed no opinion on them. The corporation indicated to buy the shares for $ 35,789 and to provide additional records to petitioner, but
