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Old 12-17-2006, 01:44 PM
pepe pepe is offline
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Default Left Out, Need Advice As 40% Owner

My question is this: What is the responsibility of the President of a corporation who owns 60%, to the minority owner and Secretary/Treasurer who owns 40% when it comes to financial reports? About 8 months ago communications stopped for some unknown reason, I have requested information from our accountant and received only one monthly statement with no other supporting reports. I would like to know exactly what records I can insist on having on a monthly basis (i.e. monthly financial statements, payroll records, expenditures, check register, inventory, etc.)? This is a small company but has holdings in excess of 4 million in real estate and $600,000 in accounts receivables. Should I call a meeting (something we have not kept up in the past) or contact our accountant and insist on the information I am intitled to? This is a 17 Year relationship and I want to make sure I follow correct procedures, but find out what is going on within my company and protect myself. Again my major question is which financial report can I insist on seeing? Thanks in advance for any information!
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