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August 6
Part I
Flood Insurance: Requirements and Best Practices
A Two-Part Companion Webinar Series;
David Dickinson and Jerod Moyer

August 12
A to Z of Reg E;
Andy Zavoina

August 13
Part II
Flood Insurance: Requirements and Best Practices
A Two-Part Companion Webinar Series;
David Dickinson and Jerod Moyer

August 14
Advanced Business Accounts - Complicated Issues and Simple Solutions;
Deborah Crawford

August 19
HMDA - Coming Attractions;
Jack Holzknecht

August 20
Safe Deposit Regulatory Compliance & Legal Issues;
Dave McGuinn



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

Power Poster

Registered: 04/28/03
Posts: 2824
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: 6174
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: 17150
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 Online
10K Club

Registered: 10/27/00
Posts: 30087
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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BankersOnline.com

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