diff --git a/src/core/commands.c b/src/core/commands.c
index d126c358..7893b1c1 100644
--- a/src/core/commands.c
+++ b/src/core/commands.c
@@ -313,6 +313,7 @@ void command_runsub(const char *cmd, const char *data,
 	subcmd = g_strconcat("command ", newcmd, NULL);
 
 	g_strdown(subcmd);
+	if (server != NULL) server_ref(server);
 	if (!signal_emit(subcmd, 3, args, server, item)) {
 		defcmd = g_strdup_printf("default command %s", cmd);
 		if (!signal_emit(defcmd, 3, data, server, item)) {
@@ -321,6 +322,7 @@ void command_runsub(const char *cmd, const char *data,
 		}
                 g_free(defcmd);
 	}
+	if (server != NULL) server_unref(server);
 
 	g_free(subcmd);
 	g_free(orig);
diff --git a/src/core/server-rec.h b/src/core/server-rec.h
index b88d2a41..9f5070f7 100644
--- a/src/core/server-rec.h
+++ b/src/core/server-rec.h
@@ -3,6 +3,8 @@
 int type; /* module_get_uniq_id("SERVER", 0) */
 int chat_type; /* chat_protocol_lookup(xx) */
 
+int refcount;
+
 STRUCT_SERVER_CONNECT_REC *connrec;
 time_t connect_time; /* connection time */
 time_t real_connect_time; /* time when server replied that we really are connected */
@@ -10,7 +12,8 @@ time_t real_connect_time; /* time when server replied that we really are connect
 char *tag; /* tag name for addressing server */
 char *nick; /* current nick */
 
-unsigned int connected:1; /* connected to server */
+unsigned int connected:1; /* Connected to server */
+unsigned int disconnected:1; /* Disconnected, waiting for refcount to drop zero */
 unsigned int connection_lost:1; /* Connection lost unintentionally */
 unsigned int session_reconnect:1; /* Connected to this server with /UPGRADE */
 unsigned int no_reconnect:1; /* Don't reconnect to server */
diff --git a/src/core/servers.c b/src/core/servers.c
index 199171fb..725010a8 100644
--- a/src/core/servers.c
+++ b/src/core/servers.c
@@ -45,23 +45,26 @@ void server_connect_failed(SERVER_REC *server, const char *msg)
 	lookup_servers = g_slist_remove(lookup_servers, server);
 
 	signal_emit("server connect failed", 2, server, msg);
-	if (server->connect_tag != -1)
+
+	if (server->connect_tag != -1) {
 		g_source_remove(server->connect_tag);
-	if (server->handle != NULL)
+		server->connect_tag = -1;
+	}
+	if (server->handle != NULL) {
 		net_sendbuffer_destroy(server->handle, TRUE);
+		server->handle = NULL;
+	}
 
 	if (server->connect_pipe[0] != NULL) {
 		g_io_channel_close(server->connect_pipe[0]);
 		g_io_channel_unref(server->connect_pipe[0]);
 		g_io_channel_close(server->connect_pipe[1]);
 		g_io_channel_unref(server->connect_pipe[1]);
+		server->connect_pipe[0] = NULL;
+		server->connect_pipe[1] = NULL;
 	}
 
-	MODULE_DATA_DEINIT(server);
-	server_connect_unref(server->connrec);
-	g_free_not_null(server->nick);
-	g_free(server->tag);
-	g_free(server);
+	server_unref(server);
 }
 
 /* generate tag from server's address */
@@ -242,6 +245,7 @@ void server_connect_init(SERVER_REC *server)
 
 	MODULE_DATA_INIT(server);
 	server->type = module_get_uniq_id("SERVER", 0);
+	server_ref(server);
 
 	server->nick = g_strdup(server->connrec->nick);
 	if (server->connrec->username == NULL || *server->connrec->username == '\0') {
@@ -358,15 +362,41 @@ void server_disconnect(SERVER_REC *server)
 		server->handle = NULL;
 	}
 
-	if (server->readtag > 0)
+	if (server->readtag > 0) {
 		g_source_remove(server->readtag);
+		server->readtag = -1;
+	}
+
+	server->disconnected = TRUE;
+	server_unref(server);
+}
+
+void server_ref(SERVER_REC *server)
+{
+	g_return_if_fail(IS_SERVER(server));
+
+	server->refcount++;
+}
+
+void server_unref(SERVER_REC *server)
+{
+	g_return_if_fail(IS_SERVER(server));
+
+	if (--server->refcount > 0)
+		return;
+
+	if (g_slist_find(servers, server) != NULL) {
+		g_warning("Non-referenced server wasn't disconnected");
+		server_disconnect(server);
+		return;
+	}
 
         MODULE_DATA_DEINIT(server);
 	server_connect_unref(server->connrec);
-	rawlog_destroy(server->rawlog);
-	line_split_free(server->buffer);
-	g_free_not_null(server->version);
-	g_free_not_null(server->away_reason);
+	if (server->rawlog != NULL) rawlog_destroy(server->rawlog);
+	if (server->buffer != NULL) line_split_free(server->buffer);
+	g_free(server->version);
+	g_free(server->away_reason);
 	g_free(server->nick);
 	g_free(server->tag);
 	g_free(server);
diff --git a/src/core/servers.h b/src/core/servers.h
index 667a034e..ddeb2494 100644
--- a/src/core/servers.h
+++ b/src/core/servers.h
@@ -39,6 +39,9 @@ void servers_deinit(void);
 /* Disconnect from server */
 void server_disconnect(SERVER_REC *server);
 
+void server_ref(SERVER_REC *server);
+void server_unref(SERVER_REC *server);
+
 SERVER_REC *server_find_tag(const char *tag);
 SERVER_REC *server_find_chatnet(const char *chatnet);
 
diff --git a/src/irc/core/irc.c b/src/irc/core/irc.c
index d24fb801..f5aea94c 100644
--- a/src/irc/core/irc.c
+++ b/src/irc/core/irc.c
@@ -375,14 +375,15 @@ static void irc_parse_incoming(SERVER_REC *server)
 	   too slowly, so read only a few times from the socket before
 	   letting other tasks to run. */
 	count = 0;
-	while (irc_receive_line(server, &str, count < MAX_SOCKET_READS) > 0) {
+	server_ref(server);
+	while (!server->disconnected &&
+	       irc_receive_line(server, &str, count < MAX_SOCKET_READS) > 0) {
 		rawlog_input(server->rawlog, str);
 		signal_emit_id(signal_server_incoming, 2, server, str);
 
 		count++;
-		if (g_slist_find(servers, server) == NULL)
-			break; /* disconnected */
 	}
+	server_unref(server);
 }
 
 static void irc_init_server(IRC_SERVER_REC *server)
diff --git a/src/perl/common/Server.xs b/src/perl/common/Server.xs
index 1ae534cf..5516cc4a 100644
--- a/src/perl/common/Server.xs
+++ b/src/perl/common/Server.xs
@@ -59,6 +59,14 @@ void
 server_disconnect(server)
 	Irssi::Server server
 
+void
+server_ref(server)
+	Irssi::Server server
+
+void
+server_unref(server)
+	Irssi::Server server
+
 int
 isnickflag(server, flag)
 	Irssi::Server server
diff --git a/src/perl/module.h b/src/perl/module.h
index c54cd61a..e12482ab 100644
--- a/src/perl/module.h
+++ b/src/perl/module.h
@@ -22,4 +22,4 @@ extern PerlInterpreter *my_perl; /* must be called my_perl or some perl implemen
 
 /* Change this every time when some API changes between irssi's perl module
    (or irssi itself) and irssi's perl libraries. */
-#define IRSSI_PERL_API_VERSION 20011204
+#define IRSSI_PERL_API_VERSION 20011214