271B.7 -230 Shares held by nominees. (1) 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) The pro cedure 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; (c) The manner in which the procedure is selected by the nominee; (d) The information that must be prov ided when the procedure is selected; (e) The period for which selection of the procedure is effective; and (f) Other aspects of the rights and duties created. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 59, effective January 1, 1 989.
Kentucky Legal Code