For Your Data Parsons V. Jefferson-Pilot Corp. Illustration Brief
March 15, 2016
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Parsons v. Jefferson-Pilot Corp. illustration brief summary
426 S.E.2d 685 (1993)
CASE FACTS
Plaintiff moved for a preliminary injunction seeking to compel accused corporation to let inspection of defendant's accounting records in addition to records of non-objecting beneficial owners (NOBO). The lower courtroom entered judgment, asset that plaintiff was entitled to inspect all records except the NOBO list. Plaintiff in addition to accused appealed.
DISCUSSION
Judgment reversed inward business office because plaintiff had both a mutual police trace in addition to statutory correct to inspect the accounting records of defendant; judgment affirmed inward business office because plaintiff did non accept a correct to demand accused to railroad train a listing of non-objecting beneficial owners.
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426 S.E.2d 685 (1993)
CASE SYNOPSIS
Plaintiff appealed an club from the Superior Court, Guilford County (North Carolina), inward which the courtroom held that the North Carolina Business Corporation Act, N.C. Gen. Stat. § 55-16-02(e)(2), abrogated plaintiff's mutual police trace correct to inspect defendant's accounting records.CASE FACTS
Plaintiff moved for a preliminary injunction seeking to compel accused corporation to let inspection of defendant's accounting records in addition to records of non-objecting beneficial owners (NOBO). The lower courtroom entered judgment, asset that plaintiff was entitled to inspect all records except the NOBO list. Plaintiff in addition to accused appealed.
DISCUSSION
- The supreme courtroom affirmed inward part, in addition to reversed inward part.
- The supreme courtroom held that plaintiff had a mutual police trace correct to inspect certainly records because the North Carolina Business Corporation Act, N.C. Gen. Stat. § 55-16-02(e)(2), preserved plaintiff's mutual police trace correct to brand reasonable inspections of the accounting records of a populace corporation for proper purposes.
- The courtroom held, however, that plaintiff was non granted a correct under N.C. Gen. Stat. § 55-16-02(b)(3) to demand accused corporation to obtain NOBO lists or the data necessary to compile NOBO lists when the corporation did non possess or utilisation the information.
Judgment reversed inward business office because plaintiff had both a mutual police trace in addition to statutory correct to inspect the accounting records of defendant; judgment affirmed inward business office because plaintiff did non accept a correct to demand accused to railroad train a listing of non-objecting beneficial owners.
Recommended Supplements for Corporations in addition to Business Associations Law