16-16-505 - Right of member and former member to information.
16-16-505. Right of member and former member to information.
(1) Not later than 10 business days after receipt of a demand made in a record, a limitedcooperative association shall permit a member to obtain, inspect, and copy in the association'sprincipal office required information listed in Subsections 16-16-114(1)(a) through (h) duringregular business hours. A member need not have any particular purpose for seeking theinformation. The association is not required to provide the same information listed inSubsections 16-16-114(1)(b) through (h) to the same member more than once during a six-monthperiod.
(2) On demand made in a record received by the limited cooperative association, amember may obtain, inspect, and copy in the association's principal office required informationlisted in Subsections 16-16-114(1)(i), (j), (l), (m), (p), and (r) during regular business hours, if:
(a) the member seeks the information in good faith and for a proper purpose reasonablyrelated to the member's interest;
(b) the demand includes a description with reasonable particularity of the informationsought and the purpose for seeking the information;
(c) the information sought is directly connected to the member's purpose; and
(d) the demand is reasonable.
(3) Not later than 10 business days after receipt of a demand pursuant to Subsection (2),a limited cooperative association shall provide, in a record, the following information to themember that made the demand:
(a) if the association agrees to provide the demanded information:
(i) what information the association will provide in response to the demand; and
(ii) a reasonable time and place at which the association will provide the information; or
(b) if the association declines to provide some or all of the demanded information, theassociation's reasons for declining.
(4) A person dissociated as a member may obtain, inspect, and copy informationavailable to a member under Subsection (1) or (2) by delivering a demand in a record to thelimited cooperative association in the same manner and subject to the same conditions applicableto a member under Subsection (2) if:
(a) the information pertains to the period during which the person was a member in theassociation; and
(b) the person seeks the information in good faith.
(5) A limited cooperative association shall respond to a demand made pursuant toSubsection (4) in the manner provided in Subsection (3).
(6) Not later than 10 business days after receipt by a limited cooperative association of ademand made by a member in a record, but not more often than once in a six-month period, theassociation shall deliver to the member a record stating the information with respect to themember required by Subsection 16-16-114(1)(q).
(7) A limited cooperative association may impose reasonable restrictions, includingnondisclosure restrictions, on the use of information obtained under this section. In a disputeconcerning the reasonableness of a restriction under this Subsection (7), the association has theburden of proving reasonableness.
(8) A limited cooperative association may charge a person that makes a demand underthis section reasonable costs of copying, limited to the costs of labor and material.
(9) A person that may obtain information under this section may obtain the information
through an attorney or other agent. A restriction imposed on the person under Subsection (7) orby the organic rules applies to the attorney or other agent.
(10) The rights stated in this section do not extend to a person as transferee.
(11) The organic rules may require a limited cooperative association to provide moreinformation than required by this section and may establish conditions and procedures forproviding the information.
Enacted by Chapter 363, 2008 General Session