Colorado § 7-107-204 Shares held by intermediaries and nominees

Colorado Statutes

§ 7-107-204 — Shares held by intermediaries and nominees

Colorado·Title 07 Corporations·Art. Shareholders

(1)A corporation's board of directors may establish a procedure by which a beneficial owner is recognized by the corporation in its records as the shareholder. The extent, terms, conditions, and limitations of this treatment must be specified in the procedure so established. To the extent that the beneficial owner is treated under the procedure as having rights or privileges that the shareholder otherwise would have, the shareholder does not have those rights or privileges.

(2)The procedure described in subsection (1) of this section must specify:

(a)The types of intermediaries or nominees to which it applies;

(b)The rights or privileges that the corporation recognizes in a beneficial owner, which may include rights or privileges other than voting;

(c)The manner in which th

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(1) A corporation's
board of directors may establish a procedure by which a beneficial owner is
recognized by the corporation in its records as the shareholder. The extent, terms,
conditions, and limitations of this treatment must be specified in the procedure so
established. To the extent that the beneficial owner is treated under the procedure
as having rights or privileges that the shareholder otherwise would have, the
shareholder does not have those rights or privileges.

(2) The procedure described in subsection (1) of this section must specify:

(a) The types of intermediaries or nominees to which it applies;

(b) The rights or privileges that the corporation recognizes in a beneficial
owner, which may include rights or privileges other than voting;

(c) The manner in which the procedure may be used by the intermediary or
nominee;

(d) The information that shall be provided by the intermediary or nominee
when the procedure is used;

(e) The period for which the intermediary's or nominee's use of the procedure
is effective;

(f) Requirements for notice to the corporation with respect to the
arrangement, including any requirements for the deposit with the corporation of the
beneficial ownership certificate;

(g) The form and contents of the beneficial ownership certificate; and

(h) Other aspects of the rights and duties thereby created.

Colorado § 7-107-204 (Shares held by intermediaries and nominees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article added, p. 772, � 1, effective July 1, 1994. L. 2003: IP(2) amended, p. 2319, � 237, effective July 1, 2004. L. 2019: Entire section amended, (SB 19-086), ch. 166, p. 1928, � 32, effective July 1, 2020.