47-1A-723. Shares held by nominees.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. 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. Source: SL 2005, ch 239, §105.
South Dakota Legal Code