(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.(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.Acts 1987, No. 958, § 64-711.
Arkansas Legal Code