Code of Virginia (Last Updated:July 28, 2020) |
TITLE 13.1. Corporations |
CHAPTER 9. Virginia Stock Corporation Act |
ARTICLE 8. Shareholders |
SECTION 13.1-664. 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. 1985, c. 522. |