35-1-526. Shares held by nominees. (1) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee is recognized by the corporation as the shareholder. The extent of this recognition may be determined in the procedure.
     (2) The procedure may set forth:
     (a) the type of nominee to which it applies;
     (b) the rights or privileges that the corporation recognizes in a beneficial owner;
     (c) the manner in which the procedure is selected by the nominee;
     (d) the information that must be provided when the procedure is selected;
     (e) the period for which selection of the procedure is effective; and
     (f) other aspects of the rights and duties created.

     History: En. Sec. 59, Ch. 368, L. 1991.