CODE OF VIRGINIA

SHARES HELD BY NOMINEES (§ 13.1-664)

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.

HISTORY: 1985, c. 522.