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#24059 - 07/17/02 02:02 PM ITF vs POD
complyguy Offline
Gold Star
Joined: May 2001
Posts: 494
Could someone direct me to the state statutes where I might research any possible consequences of titling an account POD instead of ITF? If you've had direct experience with this, I would appreciate your relating that, as well. Thanks!

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#24060 - 07/17/02 03:05 PM Re: ITF vs POD
PABanker Offline
Gold Star
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506

In reading my resource from Professional Bank Services, POD account type is not recommended for PA. The POD is not recognized as PA statutory,whereas ITF is recognized. I hope this helps. I highly recommend the above stated vendor for their seminar on "PA Deposit Docmentation".

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#24061 - 08/08/02 01:11 PM Re: ITF vs POD
William Offline
Gold Star
Joined: Oct 2000
Posts: 470
In a location
Not just PA, but other states also. The ITF is being 'chosen' to replace POD. We operate in several states and have converted our doc/titling to use only ITF.
Comments are mine and not those of my employer.

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