Section 21.201 - Registered Holders As Owners; Shares Held By Nominees(a) Except as otherwise provided by this code and subject to Chapter 8, Business & Commerce Code, a corporation may consider the person registered as the owner of a share in the share transfer records of the corporation at a particular time, including a record date set under Section 6.101 or 6.102 or Subchapter H, as the owner of that share at that time for purposes of: (2) receiving distributions on the share;(3) transferring the share;(4) receiving notice, exercising rights of dissent, exercising or waiving a preemptive right, or giving proxies with respect to that share;(5) entering into agreements with respect to that share in accordance with Section 6.251, 6.252, or 21.210; or(6) any other shareholder action.(b) A corporation may establish a procedure by which the corporation recognizes as a shareholder the beneficial owner of shares registered in the name of a nominee.(c) A procedure established under Subsection (b) must:(1) determine the extent of the corporation's recognition of the beneficial owner as a shareholder; and(2) include the nominee's filing of a statement with the corporation that contains information regarding the beneficial owner.(d) A procedure established under Subsection (b) may set forth:(1) the types of nominees to which the procedure applies;(2) the rights or privileges that the corporation will recognize in a beneficial owner, to the extent that the rights or privileges are not inconsistent with Section 10.361(g);(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 the selection of the procedure is effective; and(6) any other aspect of the rights and duties to be established under the procedure.Tex. Bus. Org. Code § 21.201
Amended by Acts 2009, 81st Leg., R.S., Ch. 84, Sec. 33, eff. 9/1/2009. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.