(1) Each member has the right to:
Inspect and copy the books and records of account, the records of the contributionsand holdings of the members and their transferees and other successors, the bylaws, and the minutes of the members and of the managers;
Obtain from the managers true and full information regarding the state of the business and the financial condition of the association and any other information regarding the affairs of the association;
Obtain copies from the managers, upon becoming available, of the association's federal, state, and local income tax returns for each year; and
Have a formal accounting of association affairs whenever circumstances render itjust and reasonable.
(2) Subsection (1) of this section is a default rule, subject to the bylaws.
Source: L. 95: Entire article added, p. 799, § 18, effective May 24.