Posted By: complyguy
ITF vs POD - 07/17/02 02:02 PM
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!
Posted By: PABanker
Re: ITF vs POD - 07/17/02 03:05 PM
Hi!
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".
Posted By: William
Re: ITF vs POD - 08/08/02 01:11 PM
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.