Kentucky Statutes 271B.7-230 – Shares held by nominees
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(1) 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) The procedure 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.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 59, effective January 1, 1989.
(2) The procedure may set forth:
Terms Used In Kentucky Statutes 271B.7-230
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Kentucky Statutes 271B.1-400
(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.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 59, effective January 1, 1989.