Section 6051 Of Article 2. Access To Books And Records; Communication With Stockholders Or Members; Derivative Actions From California Financial Code >> Division 2. >> Chapter 3. >> Article 2.
6051
. (a) If any member, members, stockholder or stockholders
desire to communicate with other members or stockholders of an
association about any question pending or to be presented for
consideration at a meeting of the members or stockholders, the
association shall furnish upon request a statement of the approximate
number of members or stockholders of the association at the time of
the request, and an estimate of the cost of forwarding the
communication. The requesting member, members, stockholder or
stockholders shall then submit the communication, together with a
sworn statement that the proposed communication is not for any reason
other than the business welfare of the association, to the
commissioner. If after examination of the facts the commissioner
finds it to be appropriate, truthful, and in the best interests of
the association and the association's members or stockholders, the
commissioner shall execute a certificate setting out the facts and
findings and shall forward the certificate together with the
communication to the association and direct that the communication be
prepared and mailed by the association to the members or
stockholders upon the payment to it by those making the request of
the expenses of preparation and mailing.
(b) If the commissioner finds the proposed communication to be
inappropriate, untruthful, or contrary to the best interests of the
association and its members or stockholders, the commissioner may
deny or make other disposition of the request to communicate deemed
proper and shall execute a certificate setting out facts and findings
and deliver it to the party or parties making the request together
with an order denying or making other disposition of the request.