Section 724 - Shares held by nominees1.Recognition of beneficial owner as shareholder. 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. [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]
2.Procedure for recognition. The procedure under subsection 1 may set forth: A. The types of nominees to which it applies; [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]B. The rights or privileges that the corporation recognizes in a beneficial owner; [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]C. The manner in which the procedure is selected by the nominee; [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]D. The information that must be provided when the procedure is selected; [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]E. The period for which selection of the procedure is effective; and [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]F. Other aspects of the rights and duties created. [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).] [RR 2013, c. 2, §23(COR).]
2001, c. 640, §A2 (NEW) . 2001, c. 640, §B7 (AFF) .