23B.07.230 - Shares held by nominees. - Washington Statutes

Shares held by nominees.

(1) 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.

     (2) The procedure may set forth:

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

     (b) The rights or privileges that the corporation recognizes in a beneficial owner;

     (c) The manner in which the procedure is selected by the nominee;

     (d) The information that must be provided when the procedure is selected;

     (e) The period for which selection of the procedure is effective; and

     (f) Other aspects of the rights and duties created.

[1989 c 165 § 71.]