Question: Stanka Woods is the sole member of Hair Ventures LLC
Stanka Woods is the sole member of Hair Ventures, LLC. Hair Ventures owns 3 million shares of stock in Biolustré Inc. For several years, Woods and other Biolustré shareholders did not receive notice of shareholders’ meetings or financial reports. On learning that Biolustré planned to issue more stock, Woods, through Hair Ventures, demanded to see Biolustré’s books and records. Biolustré asserted that the request was not for a proper purpose. Does Woods have a right to inspect Biolustré’s books and re-cords? If so, what are the limits? Do any of those limits apply in this case? Explain.
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