180.1601 Corporate records.
(1) A corporation shall keep as permanent records any of the following that has been prepared:
(a) Minutes of meetings of its shareholders and board of directors.
(b) Records of actions taken by the shareholders or board of directors without a meeting.
(c) Records of actions taken by a committee of the board of directors in place of the board of directors and on behalf of the corporation.
(2) A corporation shall maintain appropriate accounting records.
(3) A corporation or its agent shall maintain a record of its shareholders, in a form that permits preparation of a list of the names and addresses of all shareholders, by class or series of shares and showing the number and class or series of shares held by each shareholder.
(4) A corporation shall maintain its records in written form or in another form capable of conversion into written form within a reasonable time.
History: 1989 a. 303.
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