Stokes O'Brien

Can an LLC Member see the LLC’s Records in California?

Posted in Business and Real Estate Litigation on October 31, 2015

Yes.  LLC members in California have many rights, one of which is to request, at the company’s expense, the following records:

  • List of the names and addresses of each member, together with their contribution and the share in profits and losses;
  • List of the name and addresses of each manager;
  • LLC’s federal, state, and local income tax information for last 6 years;
  • Articles of organization and all amendments;
  • Operating agreement and all amendments;
  • Financial statements; and
  • Books and records that relate to the internal affairs of the company.
Defining some of the categories of documents can be a source of dispute, such as “financial statements” and “records that relate to the internal affairs of the LLC.”  LLCs should be cognizant of privacy issues and giving unruly or disruptive members information to which they do not have rights.

Fortunately for members seeking information, the law permits the recovery of costs and attorney fees if a lawsuit becomes necessary.

Business litigation lawyers in San Diego at our firm are available to assist if matters turn difficult — contact us for a free consultation.