Trans linkage question

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That I believe is the reverse lockout rod. It's a safety feature. I don't have one on my 4spd car but I believe you have to put the car in reverse to remove the key. I'm not sure how it works on an automatic. I still want to buy one for my 72 Q code top loader 4spd car.

 
Your initial idea is correct, it keeps the transmission locked in park until the key is turned

 
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