{"data":{"id":"us-al/ala.-code-10a-2-7.23","jurisdiction":"us-al","citation":"Ala. Code § 10A-2-7.23","heading":"Shares Held by Nominees.","body":"REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.\n(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.\n(b) The procedure may set forth:\n(1) The types of nominees to which it applies;\n(2) The rights or privileges that the corporation recognizes in a beneficial owner;\n(3) The manner in which the procedure is selected by the nominee;\n(4) The information that must be provided when the procedure is selected;\n(5) The period for which selection of the procedure is effective; and\n(6) Other aspects of the rights and duties created.","path":["Title 10A Alabama Business and Nonprofit Entities Code.","Chapter 2 Business Corporations.","Article 7 Shareholders.","Division B Voting."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=10A-2-7.23","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:53Z","sha256":"9c8a7989e6c7931242f1474e09d0ab1eb5e75249922b1b92e2bd4c59ed5f469f","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-10a-2-7.22","next":"us-al/ala.-code-10a-2-7.24"},"notice":"GroundRules: Original legal text. Not legal advice."}