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#214144 - 07/22/04 01:09 PM Collateral - only one signer on Joint CD
kw@fnb Offline
100 Club
Joined: Jul 2004
Posts: 135
Beatrice, NE
Is it legal/compliant to take a CD for collateral when only one of two owners has signed the assignment form?

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General Discussion
#214145 - 07/22/04 01:17 PM Re: Collateral - only one signer on Joint CD
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,769
On the Net
When either owner of the CD can cash it in, yes.

Some states may have additional restrictions. Texas law now requires that a notice be sent to the other owner(s) advising them of the pledge.
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AndyZ CRCM
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