16-10a-723 - Shares held by nominees.
16-10a-723. Shares held by nominees.
(1) A corporation may establish a procedure by which the beneficial owner of shares thatare registered in the name of a nominee is recognized by the corporation as the shareholder. Theextent of this recognition may be determined in the procedure.
(2) The procedure described in Subsection (1) may set forth:
(a) the types of nominees to which it applies;
(b) the rights or privileges that the corporation recognizes in a beneficial owner, whichmay include rights or privileges other than voting;
(c) the manner in which the procedure may be used by the nominee;
(d) the information that shall be provided by the nominee when the procedure is used;
(e) the period for which the nominee's use of the procedure is effective; and
(f) other aspects of the rights and duties created.
Amended by Chapter 378, 2010 General Session