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#514956 - 03/15/06 07:24 PM MMDA
Floridian Offline
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Joined: Jul 2004
Posts: 56
Does a check on a MMDA, made payable to the Bank for a loan payment count as a transaction when calculating for Reg. D?
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#514957 - 03/15/06 07:38 PM Re: MMDA
rlcarey Online
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Galveston, TX
IMHO - Yes - it is payable to the third party. If it was an automatic transfer - it would not count at all.
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#514958 - 03/16/06 10:53 PM Re: MMDA
John Burnett Offline
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Cape Cod
One might argue that if the check is payable to the drawee bank there are only two parties.
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#514959 - 03/16/06 11:15 PM Re: MMDA
rlcarey Online
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Galveston, TX
And that John, may be a very good argument
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#514960 - 03/17/06 02:36 PM Re: MMDA
Andy_Z Offline
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Loan transfers are excludable and the fact that a check was written shouldn't affect that, IMHO. So I am in the this camp as well. No 3rd party, doesn't count.

The Reg. D section of the Tool page has some helpful information on this too.
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