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

South Dakota Statutes

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

South Dakota § 47-1A-723

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-723 (Shares held by nominees.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-1A-723 (2026).

Text

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.