Legal Question in Business Law in California
do shareholders have the right to company computer and bank passwords?
3 Answers from Attorneys
Probably not, unless the shareholder is also a director of the corporation. Shareholders are entitled only to inspect records that are reasonably related to the interests of the shareholder as such, and I cannot imagine that any judge would believe a shareholder had the right to bank and computer passwords. See Corporations Code sections 1600 re access to shareholder lists; 1601 re access to books, records and minutes; and 1602 re a director's rights of inspection.
Of course not. Only properly "authorized" officers and directors and employees would.
Well, that would depend upon the Shareholders Agreement and/or if it is a close corporation under California Law. The rights of shareholders vary depending upon the character of the corporation and the type of involvement by the shareholder. So, I would need to know more about the facts surrounding the situation.
No communication resulting herein shall create an attorney-client relationship unless a separate retainer agreement is signed by attorney and client. The information provided is not legal advice nor is it conveyed in the course of an attorney-client relationship, but is intended merely as a general overview with regard to the subject matter covered. You should not act upon this information without seeking professional counsel such as any attorney in this office in a subsequent email communication (agreement) and the formation of an attorney client relationship.