13-C M.R.S. §724: Shares held by nominees

1. Recognition of beneficial owner as shareholder. 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. Procedure for recognition. The procedure under subsection 1 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.