Inspection of Records

Financial transparency: keeping homeowners educated and informed.



In Oklahoma:

If an association is incorporated, the Oklahoma Corporation Code requires certain formalities in regards to corporate association record keeping and production of those documents when a member makes a records request. (18 O.S. 1065)

Homeowners have a right to open records. If the association is incorporated Oklahoma law provides for an INSPECTION OF BOOKS AND RECORDS Oklahoma General Corporation Act Section 1065 – Title 18.

The homeowners associations governing documents themselves might also provide an inspection right much larger than that afforded by statute.

If the corporation or an officer or agent thereof refuses to permit an inspection sought by a shareholder or attorney or other agent acting for the shareholder and does not  reply to the demand within five (5) business days after the demand has been made, the shareholder may apply to the district court (small claims) for an order to compel an inspection.


The court may summarily order the corporation to permit the homeowner to inspect the corporation’s books and records, and to make copies or extracts therefrom.
The court may order books, documents, and records, pertinent extracts therefrom, or duly authenticated copies thereof, to be brought within this state and kept in this state upon such terms and conditions as the order may prescribe. The records, books, and files of all corporations shall be, at all times, liable and subject to the full visitorial and inquisitorial powers of the State,§ Article 2 section 28. Corporate Records, Books and Files

Any director, including a member of the governing body of a nonstock corporation, shall have the right to examine the corporation’s stock ledger, a list of its shareholders, and its other books and records for a purpose reasonably related to his or her position as a director. 

The district court may summarily order the corporation to permit the director to inspect any and all books and records, the stock ledger, and the list of shareholders and to make copies or extracts therefrom. The court, in its discretion, may prescribe any limitations or conditions with reference to the inspection, or award other or further relief as the court may deem just and proper.
From a record-keeping standpoint, the statute assumes each corporation will retain records for homeowners. For nonprofit associations, these would be the owner-members.


Records Retained by the Association. In the normal course of business, the Association will retain certain books and records in order to operate as a professional and legitimate Oklahoma corporation. The Association will permanently maintain in a bound volume each of the annual minutes, board meeting minutes, policies, and resolutions of the corporation. Any minutes of any executive session of the board or any documents produced for the purposes of litigation or provided by legal counsel shall be permanently maintained in a particularly identifiable volume separate from the Minute Book. The Association will maintain certain other documents and records in the nature of financial records, architectural committee documents, individual owner/Lot files, and the like pursuant to the needs of the Association. Such documents may be maintained in a manner suitable to the Board.

Records requests by Members. Upon request, the Association will make hardcopies of the following available to Members in good standing: a complete copy of each governing document (Covenants and By-Laws), a current budget, a profit and loss statement for the current year, a balance sheet for the current year, and minutes for the current year board meetings and annual meeting.