The Vermont Statutes Online

Title 11A : Vermont Business Corporations

Chapter 007 : SHAREHOLDERS

Subchapter 002 : VOTING

• § 7.23. Shares held by nominees

  (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. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)