Can a Florida LLC Member Inspect Company Records?

Section 605.0410(1) lists the required records. They include a current list of members and managers with addresses, the operating agreement and amendments if in a record, filed articles and amendments, and the last 3 years of tax returns and financial statements, if any. A record of member contributions is also required unless it is in the operating agreement.

In a member managed company, a member may inspect and copy these records on reasonable notice during regular business hours. A member may also inspect other company records to the extent the information is material to the member's rights and duties.

In a manager managed company, those broader rights belong to the managers. A member may still inspect the required records and may obtain other information that is just and reasonable. The member must seek it for a purpose reasonably related to the member's interest and make a demand in a record that describes the information and purpose with reasonable particularity.

In either type of company, the company must respond within 10 days after a qualifying demand, stating what it will provide and the reasons for any refusal. The company may charge reasonable copying costs and may impose reasonable restrictions on access and use. A dissociated member has limited rights for the period of membership. Operating agreements often address these rights, and the topic is covered on Easler Law PLLC's business attorneys page.