Banman, What if your shares were stolen from your borkerage office.  Isn't there some record of who owns shares and who doesn't? Ultimately, you're an owner of the company.  If someone shows up to try and cash in shares and there is no record of him owning the company, he could be prosecuted.  I guess what I'm saying is that ultimately, even is your brokerage does something to lose your shares for you, you still, bu law, are a part owner of the company and can claim that right.  Does this make sense? SB