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April 24
BSA/AML Compliance: Writing the SAR Narrative
Ken Golliher

April 29
HSA Basics
Whitney Johnson

April 29
Required Training for Loan Originators
Mary Beth Guard and Jack Holzknecht

May 13
Overdraft Practices in Today's Regulatory Environment
John Burnett

May 14
Reg E Claims - Allocating Liability Correctly
Andy Zavoina

May 15
Managing Electronic Information - From A to Zettabyte
Fred Menge



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

Power Poster

Registered: 04/28/03
Posts: 2790
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-MamaBear Offline

Power Poster

Registered: 05/23/02
Posts: 6152
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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"Life is tough; it's tougher when you're stupid."

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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: 16712
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
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Registered: 10/27/00
Posts: 29484
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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