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



March 24, 2015
Maze of Debit Card Compliance
Brian Crow

March 25, 2015
Appraisals and Evaluations: Performing Internal Compliance Reviews
Eric Collinsworth

March 30, 2015
Cybersecurity: Third Party Resilience – What the FFIEC Wants You to Know
Susan Orr

April 2, 2015
Fair Lending Hot Topics – Don't Get Burned!!
Patricia Cashman

April 7, 2015
Building a BSA Training Program
Deborah Crawford

April 8, 2015
Advertising Compliance
David Dickinson



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


Power Poster

Registered: 04/28/03
Posts: 2932
Loc: Fort Lauderdale, Florida
Can a check that has the phrase "Subject to STA TOD Rules" be cashed out...?

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: 6206
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.

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

10K Club

Registered: 08/30/01
Posts: 17935
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.)
_________________________
"We have met the enemy and he is us." Pogo

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: 31523
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