How can I get my business partner to let me see the bank statements?

UPDATED: Oct 1, 2022

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How can I get my business partner to let me see the bank statements?

I’m in business with my sister. No contracts or agreements were signed – just a verbal 50/50

ownership of business where she would be the administrator. She never put me on the signature

card for the bank I do have the paperwork stating 50/50 ownership in LLC. And our accountant does the books that way. Ive let her run the business but now would like to get into the bank account and she refuses. Is there anything I can do/say? Should I get a lawyer?

Asked on March 31, 2019 under Business Law, Arizona


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

As a 50-50 owner, you have an equal right to her to see the bank statements. And an owner (e.g. her) has a "fiduciary duty," or duty of loyalty and honesty, to her co-owners, so she must show loyalty to you and be honest about the bank account. So there are grounds to make her show you the statements. But doing so will require a lawsuit, since only a court can issue an order compelling this. Such a suit is more legally and procedurally complicated than, say, a small claims suit, so you are strongly advised to retain an attorney to help you.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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