Because a stock certificate is a negotiable instrument similar to currency,if a stock certificate is destroyed (for example,by fire),the shareholder's ownership in the corporation terminates.

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Some corporations issue stock certificates to shareholders as proof of ownership in the corporation.Each certificate includes the corporation's name and the number of shares represented by the certificate.A shareholder's ownership in the corporation,however,does not depend on his possession of the physical stock certificate.For example,if the certificate is destroyed in a fire,the shareholder's ownership in the corporation is not destroyed.

Because a Stock Certificate Is a Negotiable Instrument Similar to Currency,if