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This entry was published on 2014-09-22
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SECTION 1102
Records
Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 11
§ 1102. Records. (a) Each domestic limited liability company shall
maintain the following records, which may, but need not, be maintained
in this state:

(1) if the limited liability company is managed by a manager or
managers, a current list of the full name set forth in alphabetical
order and last known mailing address of each such manager;

(2) a current list of the full name set forth in alphabetical order
and last known mailing address of each member together with the
contribution and the share of profits and losses of each member or
information from which such share can be readily derived;

(3) a copy of the articles of organization and all amendments thereto
or restatements thereof, together with executed copies of any powers of
attorney pursuant to which any certificate or amendment has been
executed;

(4) a copy of the operating agreement, any amendments thereto and any
amended and restated operating agreement; and

(5) a copy of the limited liability company's federal, state and local
income tax or information returns and reports, if any, for the three
most recent fiscal years.

(b) Any member may, subject to reasonable standards as may be set
forth in, or pursuant to, the operating agreement, inspect and copy at
his or her own expense, for any purpose reasonably related to the
member's interest as a member, the records referred to in subdivision
(a) of this section, any financial statements maintained by the limited
liability company for the three most recent fiscal years and other
information regarding the affairs of the limited liability company as is
just and reasonable.

(c) If provided in the operating agreement, certain members or
managers shall have the right to keep confidential from other members
for such period of time as such certain members or the managers deem
reasonable, any information which such certain members or the managers
reasonably believe to be in the nature of trade secrets or other
information the disclosure of which such certain members or the managers
in good faith believe is not in the best interest of the limited
liability company or its business or which the limited liability company
is required by law or by agreement with a third party to keep
confidential.

(d) A limited liability company may maintain its records in other than
a written form if such form is capable of conversion into written form
within a reasonable time.