1. (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. (2) The procedure may set forth:

   1. (a) The types of nominees to which it applies;
   2. (b) The rights or privileges that the corporation recognizes in a beneficial owner;
   3. (c) The manner in which the procedure is selected by the nominee;
   4. (d) The information that must be provided when the procedure is selected;
   5. (e) The period for which selection of the procedure is effective; and
   6. (f) Other aspects of the rights and duties created.

History.--s. 59, ch. 89-154.