Dave, it’s NOT legal –but apparently the Winken/Nodden Process has produced a technical gray area where if, say, your agent had taken the responsibility of delivering the stock, but had never actually borrowed specific registration numbers via recorded transaction, but had gotten an assurance from some other broker, fiduciary, licensed dealer that the stock could have been located and produced, then your actual risk –in currently practice –is that in the highly unlikely event the overloaded and underpowered SEC ever comes around asking questions, and then dislikes your answers strongly enough, you may get a mild reprimand of some sort.

Just call it the usual slop that always envelopes the untenable (“Calling all units –this is an all points bulletin –immediately seal all public areas –immediate roadblocks at all intersections in tri-state area –report to HQ every five minutes –suspected jaywalker allegedly on the loose!”).

Programmer, that was inspirational –no sh*t –it really was.