Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network



December 3, 2014
Overdrafts: Latest Regulatory Feedback, Guidance & Best Practices Webinar
David Dickinson and Jerod Moyer

December 4, 2014
Freebies, Bonuses and Contests
John Burnett and Andy Zavoina

December 9, 2014
Bankruptcy: Creditor Do's and Don'ts
Sam Ott

December 10, 2014
Branch Audits: What Is Going On Out There?
Patricia Cashman

December 11, 2014
Setting up New Accounts for Trusts
Mary Beth Guard

December 17, 2014
Integrated Disclosures - An Implementation Strategy
Mary Beth Guard and Jack Holzknecht

December 18, 2014
Loan Review Best Practices for a Community Bank
Bob Fritzlan

December 19, 2014
PREPAID PRODUCTS - Understanding the CFPB Proposal
John Burnett



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

Power Poster

Registered: 04/28/03
Posts: 2871
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: 6198
Loc: NW IL
Did you ever figure this one out?
We'd never seen a check like this until today smile
_________________________
Help me make my miles matter. I am running a half marathon on behalf of Give Kids the World (the village where Make a Wish Families stay in Florida)
http://support.gktw.org/goto/nataliebear

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

Registered: 08/30/01
Posts: 17519
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.)
_________________________
"Oh God, they sea is so great and my boat is so small." Breton fisherman's prayer in JFK's office.

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

Registered: 10/27/00
Posts: 30882
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