Posted By: MagicCity
STA TOD RULES - 02/09/10 03:26 PM
Can a check that has the phrase "Subject to STA TOD Rules" be cashed out...?
STA TOD RULES
Posted By: QCL
Re: STA TOD RULES - 03/31/10 01:57 PM
Did you ever figure this one out?
We'd never seen a check like this until today
We'd never seen a check like this until today
Posted By: Elwood P. Dowd
Re: STA TOD RULES - 03/31/10 02:13 PM
Is the check issued in payment of dividends on stock or the redemption of stock or other securities? (Properly used "STA" means Securities Transfer Association.)
Posted By: John Burnett
Re: STA TOD RULES - 03/31/10 07:39 PM
It's often the case that checks issued as dividends or other payments from brokerage accounts (as well as those issued by banks for interest payments from deposit accounts) are printed with payee and address information that exactly duplicates the account registration information on the issuer's system. So, if Ken has hit on the actual abbreviation involved, the account from which this check was issued was probably a securities account designated for transfer on death to a designated individual or individuals.
It's my understanding that things like "STA TOD" or "POD [name]" are extraneous and don't affect ownership or negotiation of the check.
It's my understanding that things like "STA TOD" or "POD [name]" are extraneous and don't affect ownership or negotiation of the check.