Loraine is a shareholder of Taley Corp. She would like to inspect and copy the company's minute book, accounting records, and shareholder lists. Under what circumstances is Loraine allowed to inspect or copy corporate records?

Answer and explanation:

Taley Corp. can provide or not Loraine with a copy of the corporate records depending on the case. If Loraine has doubts about whether the company is being mismanaged and her assets are at risk, then Taley Corp. must provide Loraine a copy of the company's Financial Statements. In front of a lawsuit against the firm, Loraine could use the shareholder list to find out who can be involved in the legal case. However, if Loraine wants those documents just so she knows what information is included there Taley Corp. can deny them to her.