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October 24
How to Audit Advertising - Compliance Issues Here, There, Everywhere!;
Patricia Cashman

October 29
Documenting an Applicant's Intent to be a Joint Applicant;
David Dickinson

November 4
Issues with Deceased Customers;
Mary Beth Guard and John Burnett

November 5
Vault Burglaries, Floods, Fires & Other Disasters;
Dave McGuinn

November 6
MLO v LO - Who Has to Do What?;
Jack Holzknecht and Mary Beth Guard

November 13
Domestic Violence & Workplace Violence: There Is A Link;
Shelly Collins and Dana Turner



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#1340026 - 02/09/10 10:26 AM STA TOD RULES
MagicCity Offline

Power Poster

Registered: 04/28/03
Posts: 2849
Loc: Fort Lauderdale, Florida
Can a check that has the phrase "Subject to STA TOD Rules" be cashed out...?
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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: 6194
Loc: NW IL
Did you ever figure this one out?
We'd never seen a check like this until today smile
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#1366942 - 03/31/10 10:13 AM Re: STA TOD RULES [Re: MagicCity]
Ken_Pegasus Offline
10K Club

Registered: 08/30/01
Posts: 17435
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.)
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#1367364 - 03/31/10 03:39 PM Re: STA TOD RULES [Re: Ken_Pegasus]
John Burnett Offline
10K Club

Registered: 10/27/00
Posts: 30705
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.
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