§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.)