West Virginia § 31D-7-723 Shares held by nominees

West Virginia Statutes

§ 31D-7-723 — Shares held by nominees

West Virginia·Ch. 31D WEST VIRGINIA BUSINESS CORPORATION ACT·Art. 7 SHAREHOLDERS

(a)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.

(b)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) 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.

(b) 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.

West Virginia § 31D-7-723 (Shares held by nominees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.