Click to return to BOL home page



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

September 23
Bankruptcy 101;
Sam Ott

September 30
Revised Escrow Rules - Review and Update;
Jack Holzknecht and Mary Beth Guard

October 7
CRA - Digging for Credit;
Patricia Cashman

October 8
Applicants and Applications: Knowing the Players and the Rules;
David Dickinson

October 15
MasterCard and Reg E: Basic Debit Card Investigations;
Brian Crow



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

Power Poster

Registered: 04/28/03
Posts: 2840
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: 6185
Loc: NW IL
Did you ever figure this one out?
We'd never seen a check like this until today smile
_________________________
I'm going to give you a little advice. There's a force in the universe that makes things happen. And all you have to do is get in touch with it, stop thinking, let things happen, and be the ball.

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

Registered: 08/30/01
Posts: 17334
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: 30460
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