Texas Business Organizations Code 3.152 – Governing Person’s Right of Inspection
(a) A governing person of a filing entity may examine the entity’s books and records maintained under § 3.151 and other books and records of the entity for a purpose reasonably related to the governing person‘s service as a governing person.
(b) A court may require a filing entity to open the books and records of the filing entity, including the books and records maintained under § 3.151, to permit a governing person to inspect, make copies of, or take extracts from the books and records on a showing by the governing person that:
(1) the person is a governing person of the entity;
(2) the person demanded to inspect the entity’s books and records;
(3) the person’s purpose for inspecting the entity’s books and records is reasonably related to the person’s service as a governing person; and
(4) the entity refused the person’s good faith demand to inspect the books and records.
Terms Used In Texas Business Organizations Code 3.152
- Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
- Filing entity: means a domestic entity that is a corporation, limited partnership, limited liability company, professional association, cooperative, or real estate investment trust. See Texas Business Organizations Code 1.002
- Governing person: means a person serving as part of the governing authority of an entity. See Texas Business Organizations Code 1.002
- Person: means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a protected series or registered series of a domestic limited liability company or foreign entity. See Texas Business Organizations Code 1.002
(c) A court may award a governing person attorney’s fees and any other proper relief in a suit to require a filing entity to open its books and records under Subsection (b).
(d) This section does not apply to limited partnerships. § 153.552 applies to limited partnerships.