If you are a Massachusetts business owner, you have the right to see the books!
Here are the most important things to know:
- Whether you are an owner of a corporation; Limited Liability Company (LLC); or partnership; the law in Massachusetts gives you the right to view the company books and records. See the following: non-stock corporations - Mass. Gen. Laws Ann. Ch. 156C, § 9(b) ; partnerships -Mass. Gen. Laws Ann. Ch. 108A, §19; Limited Partnerships - Mass. Gen. Laws. Ch. 109, §5(b ); see also inspections by shareholders ; Mass. Gen. Laws Ann. Ch. 156D, §§ 16.01 et seq.
- Look to Your appropriate business agreement to identify the specific contract language that applies, if any;
- Make a written request / demand to see the records in a manner consistent with the operating agreement and applicable statute;
- If your demands are ignored; you may consider hiring an attorney. Your lawyer may file an action in the superior court to compel management to produce requested records.