SHARES HELD BY NOMINEES\n(a) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee will be recognized by the corporation as the shareholder, to the extent provided in the procedure.\n(b) The procedure may set forth:\n(1) the types of nominees to which it applies;\n(2) the rights or privileges that the corporation recognizes in a beneficial owner;\n(3) the manner in which the procedure is selected by the nominee;\n(4) a requirement for the certification by the nominee of the beneficial holders;\n(5) the information that must be provided when the procedure is selected;\n(6) the period for which selection of the procedure is effective; and\n(7) other aspects of the rights and duties created.
Massachusetts Legal Code