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.