Section 156D:7.23 - Shares held by nominees(a) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee will be recognized by the corporation as the shareholder, to the extent provided in the procedure.(b) The procedure may set forth: (1) the types of nominees to which it applies;(2) the rights or privileges that the corporation recognizes in a beneficial owner;(3) the manner in which the procedure is selected by the nominee;(4) a requirement for the certification by the nominee of the beneficial holders;(5) the information that must be provided when the procedure is selected;(6) the period for which selection of the procedure is effective; and(7) other aspects of the rights and duties created. Mass. Gen. Laws ch. 156D, § 7.23
Added by Acts 2003, c. 127, § 17, eff. 7/1/2004.