Indiana § 28-13-6-4 Beneficial owner of shares; recognition procedure; disclosure
procedure; sanctions to ensure compliance

Indiana Statutes

§ 28-13-6-4 — Beneficial owner of shares; recognition procedure; disclosure procedure; sanctions to ensure compliance

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 6 Voting by Shareholders

(a)A corporation may establish a recognition 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 recognition procedure.

(b)A corporation may establish a disclosure procedure by which the names of beneficial owners of the corporation's shares shall, to the extent not prohibited by law, be disclosed to the corporation. A corporation may not establish a procedure requiring disclosure of the names of the beneficial owners of a private trust created in good faith and not for the purpose of circumventing a disclosure procedure adopted pursuant to this section. The corporation may adopt reasonable sanctions to ensure compliance with its disclosu

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(a) A corporation may establish a recognition
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
recognition procedure.
(b) A corporation may establish a disclosure procedure by which the
names of beneficial owners of the corporation's shares shall, to the
extent not prohibited by law, be disclosed to the corporation. A
corporation may not establish a procedure requiring disclosure of the
names of the beneficial owners of a private trust created in good faith
and not for the purpose of circumventing a disclosure procedure
adopted pursuant to this section. The corporation may adopt reasonable
sanctions to ensure compliance with its disclosure procedure,
including:
(1) prohibiting the voting of;
(2) providing for mandatory or optional reacquisition of; or
(3) the withholding or payment into escrow of dividends with
respect to;
shares as to which the beneficial owner's name is not disclosed as
required by the disclosure procedure.

Indiana § 28-13-6-4 (Beneficial owner of shares; recognition procedure; disclosure procedure; sanctions to ensure compliance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.