§ 55-7-23. Shares held by nominees.
126 words·~1 min read·
/nc/chapter-55/55-7-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 55-7-23. 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 is recognized by the corporation as a shareholder. The extent of this recognition may be determined 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)The information that must be provided when the procedure is selected;
(5)The period for which selection of the procedure is effective; and
(6)Other aspects of the rights and duties created. (1989, c. 265, s. 1.)