Medallion Signature Guarantee Stamp Program

About the Program

Category: Financial Management (Best in Category)

Year: 2018

The County of Orange, California, in 2017, became the first government entity in the United States to become an enrolled guarantor in the Securities Transfer Agents Medallion Program (STAMP), the Financial Industry's Signature Guarantee Program. In addition, the Orange County Treasurer (Treasurer) became the first government "Certified Medallion User" of the County’s Medallion Signature Guarantee Stamp and affixed the first Medallion Guarantee Stamp to documents of the Office of the District Attorney/Public Administrator (District Attorney). A medallion signature is required for processing of securities by transfer agents to eliminate the risk of improper asset disposition. This program will significantly streamline the process used when a transfer of securities is required by any County Department. It is expected to be primarily used by the Treasurer for the District Attorney, whom may be appointed by the Court as the executor responsible for the transfer of securities from a deceased person to an estate. It will also be used by the Treasurer for the transfer of securities donated to the County of Orange. This thinking outside the box by the Treasurer and the District Attorney has solved a long-standing problem with obtaining timely Medallion Signature guarantees and will great benefit the County of Orange.