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Searching 2023-2024 Session

The Vermont Statutes Online


Title 11A : Vermont Business Corporations

Chapter 007 : SHAREHOLDERS

Subchapter 002 : VOTING

(Cite as: 11A V.S.A. § 7.23)
  • § 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.)