(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:
(i) The types of nominees to which it applies;
(ii) The rights or privileges that the corporation recognizes in a beneficial owner;
(iii) The manner in which the procedure is selected by the nominee;
(iv) The information that shall be provided when the procedure is selected;
(v) The period for which selection of the procedure is effective; and (vi) Other aspects of the rights and duties created.