Babbitt v. Pacco Investors Corp.

Plaintiff brought this action against Pacco Investors Corp., an Oregon corporation, and R. W. Kitson, its Registered Agent, to recover a statutory penalty for the refusal of the defendants to permit the plaintiff, claiming to be a shareholder of record, to examine the books and records of the corporation. In a jury trial plaintiff recovered a judgment for $5,000 from which defendants have appealed.

The applicable statute reads:

ORS 57.246: “(1) Each corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its shareholders and board of…