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


Power Poster

Registered: 04/28/03
Posts: 2954
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: 6210
Loc: NW IL
Did you ever figure this one out?
We'd never seen a check like this until today smile
_________________________
Our fate lives within us, you only have to be brave enough to see it.

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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: 18300
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.)
_________________________
Ten percent of life is what happens to you. The other 90 percent is what you do about it. Lou Holtz

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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: 32208
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

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