Shares held by nominees

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  1. (a) 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. (b) The procedure may set forth:

    1. (1) the types of nominees to which it applies;

    2. (2) the rights or privileges that the corporation recognizes in a beneficial owner;

    3. (3) the manner in which the procedure is selected by the nominee;

    4. (4) the information that must be provided when the procedure is selected;

    5. (5) the period for which selection of the procedure is effective; and

    6. (6) other aspects of the rights and duties created.


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