(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: (i) The types of nominees to which it applies; (ii) The rights or privileges that the corporation recognizes in a beneficial owner; (iii) The manner in which the procedure is selected by the nominee; (iv) The information that shall be provided when the procedure is selected; (v) The period for which selection of the procedure is effective; and (vi) Other aspects of the rights and duties created.
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