§ 55-7-23. Shares held by nominees.

§55‑7‑23.  Shares held by nominees.

(a)        A corporation mayestablish a procedure by which the beneficial owner of shares that areregistered in the name of a nominee is recognized by the corporation as ashareholder.  The extent of this recognition may be determined in theprocedure.

(b)        The procedure mayset forth:

(1)        The types ofnominees to which it applies;

(2)        The rights orprivileges that the corporation recognizes in a beneficial owner;

(3)        The manner in whichthe procedure is selected by the nominee;

(4)        The information thatmust be provided when the procedure is selected;

(5)        The period for whichselection of the procedure is effective; and

(6)        Other aspects of therights and duties created. (1989, c. 265, s. 1.)