Click to return to BOL home page



August 26
Keeping Bank Secrets: Things you Can Go to Jail for Telling;
Mary Beth Guard

September 8
Checkup for your RDC Program;
Susan Orr

September 10
Critical Issues on Certificates of Deposit;
Deborah Crawford

September 16
S.A.F.E. Act - Auditing for Compliance;
Patricia Cashman

September 22
FinCEN's Beneficial Owners Proposal: What It Can Mean for You;
Sonja Kriegsmann and John Burnett

September 23
Bankruptcy 101;
Sam Ott



Topic Options
#1340026 - 02/09/10 10:26 AM STA TOD RULES
MagicCity Online

Power Poster

Registered: 04/28/03
Posts: 2833
Loc: Fort Lauderdale, Florida
Can a check that has the phrase "Subject to STA TOD Rules" be cashed out...?
_________________________
Year after year I come to back to this place - to remember the taste...!

Top
Deposits and Payments
#1366918 - 03/31/10 09:57 AM Re: STA TOD RULES [Re: MagicCity]
QCL Offline

Power Poster

Registered: 05/23/02
Posts: 6177
Loc: NW IL
Did you ever figure this one out?
We'd never seen a check like this until today smile
_________________________
Who's evolved? - http://www.amazon.com/Night-At-The-Museum-Scene/dp/B00K5VDFR4

Top
#1366942 - 03/31/10 10:13 AM Re: STA TOD RULES [Re: MagicCity]
Ken_Pegasus Offline
10K Club

Registered: 08/30/01
Posts: 17250
Loc: Another trip around the sun
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.)
_________________________
The world is not a wish granting factory. Hazel Grace Lancaster

Top
#1367364 - 03/31/10 03:39 PM Re: STA TOD RULES [Re: Ken_Pegasus]
John Burnett Online
10K Club

Registered: 10/27/00
Posts: 30241
Loc: Cape Cod
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.
_________________________
John S Burnett
BankersOnline.com

Top


Moderator:  John Burnett, Ken_Pegasus