REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(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.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2 - Business Corporations.
Section 10A-2-7.20 - Shareholders' List for Meeting.
Section 10A-2-7.21 - Voting Entitlement of Shares.
Section 10A-2-7.23 - Shares Held by Nominees.
Section 10A-2-7.24 - Corporation's Acceptance of Votes.
Section 10A-2-7.25 - Quorum and Voting Requirements for Voting Groups.
Section 10A-2-7.26 - Action by Single and Multiple Voting Groups.
Section 10A-2-7.27 - Greater Quorum or Voting Requirements.
Section 10A-2-7.28 - Voting for Directors; Cumulative Voting.