South Dakota § 47-1A-723 Shares held by nominees.

South Dakota Statutes

§ 47-1A-723 — Shares held by nominees.

South Dakota·Title 47 CORPORATIONS·Ch. 47-1 SOUTH DAKOTA BUSINESS CORPORATION ACT

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.

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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.

South Dakota § 47-1A-723 (Shares held by nominees.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.