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What are Uncertificated Shares?

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What are Uncertificated Shares?

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Uncertificated shares are mutual fund shares that are recorded as being the property of the shareholder. However, no hard copy stock certificates are issued. In lieu of a stock certificate, the proof of ownership for the uncertificated shares is maintained in the records of transfer agent that handled the purchase transaction. An uncertificated share carries the same legal rights and privileges as any shares of stock that are documented with a formal certificate. The owner of uncertificated shares can trade the shares at will, as well as purchase additional shares of the same stock. Proof of ownership of the shares can always be obtained by requesting documentation from the transfer agent. In addition, the brokerage house that maintains the portfolio for the investor will also be able to document the current value of the stock, based on the latest trading activity. The issue of uncertificated shares covers many different types of investments. Also known in some circles as book shares,

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