Русско-англо-русский юридический словарь

Sometimes referred to as non-certificate shares, the book share is simply a share that is held by a transfer agent, rather than being held in the possession of the owner or client. The book shares are recorded in the records that are maintained by the agent, so that there is always a permanent record of the value of the shares, and who holds the rights to the shares. However, the actual stock certificates are never printed or forwarded to the investor. Uncertificated shares are not uncommon at all. (WiseGEEK)