State Sales Maintenance
Overview of IL204
State Sales Maintenance enables you to define which term categories are available in each state and, in turn, which investment types are offered under each term category. The window contains three tables: Registration, Category, and Type. Its bottom portion displays a set of detail fields according to which table is selected above. Notice the header over the detail portion of the screen (“Registration Detail”, etc.) to quickly determine which type of detail is being displayed. For information on configuring Investment Types, please reference this page: Investment Type and Rate Maintenance
To set up term categories and investment types, you must have established at least one state in State Sales Maintenance. This procedure description assumes that you are setting up a new state and then adding term categories under that state and investment types under each term category, in succession. You could also be expanding the categories and/or investment types offered under an established state. As long as you select the appropriate table at the top of the interface first, you will be able to use the toolbar buttons above to add/delete/modify the elements desired.
To access the screen:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Investments
- Double-click Setup
- Double-click State Sales Maintenance. You will see a screen similar to this one:
On this screen, you have the option to create a new Registration (state setup), a new category (to add to an existing state registration), or a new Type (to add to an existing category within an existing state setup).
New State Registration
To add a new state registration, click once in the Registration column and click Add. The fields now activate:
| Field | Description |
|---|---|
| State | Type the state abbreviation or click the list icon to select from a list of states configured in the system. The state offerings are maintained in code set #0511. For information on how to configure this code set, please reference this page: State Offerings |
| Registration | Open alphanumeric field that accommodates a registration code meaningful to your organization. Must be unique from all other registration codes |
| Sales limit | SEC-mandated investment limit for this state, if applicable |
| Start date | Effective date for this state registration |
| End date | Ending date for this state registration |
| Hidden | Selecting this option disables this state registration, meaning no investments may be sold against it. |
| Maturity notification | Type of notice the investor is to receive at maturity, if any. You can enter the notification code or click the list icon to display the list of notification codes that have been set up in your system. Notification codes are set up beneath code set 0520 in the system. For information on setting up notification codes, reference this page: Investment Maturity Notify Code |
| Transfer restricted | Controls whether the note printing job includes the text “See the reverse side hereof for restrictions on transferability.” in the mail merge used to print investment notes |
| Extend at maturity | This field is used in the investment maturity extension process (IL219). For information on the Investment Maturity Extensions report, reference this page: Investment Maturity Extensions Report . Enables DDI-Connect to ensure that the upcoming maturity within the state registration is allowed to be automatically extended. The selection of what investment type to use at extension is determined by selections made in the Type and Rate Maintenance. For information on configuring investment types, please reference this page: Investment Type and Rate Maintenance |
| SEC Sales/count | Current dollar amount and number of investment sales applicable under an SEC limit for this state registration, where imposed (display only) |
| Is shown online | If selected, this state will be included in the “State of Residence” selection in Online-CEF (the web-based app for Connect-CEF) when purchasing an investment. This setting applies only to the duration (based on the start/end dates) of each registration |
| SEC extensions/count | Current dollar amount and number of investment extensions applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC transfers/count | Current dollar amount and number of investment transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC total/count | Current dollar amount and number of investment sales, extensions, and transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| Non SEC sales/count | Current dollar amount and number of investment sales not applicable under an SEC limit for this state registration, where imposed (display only) |
| Offering circular | Allows you to specify the offering circular to use for this state registration. At least one offering circular must already be defined via Web Document Maintance under the “Offering Circulars” document type. The “view” icon to the right of this field allows you to view the currently selected offering circular. For information on maintaining web documents, please reference this page: Web Document Maintenance |
Click Save to retain your changes.
New Category
To add a new category to an existing state registration, first click the State that you are going to add to. Then, click in the Category column and click Add. The following fields will activate:
| Field | Description |
|---|---|
| Term | Indicates the term category for this state registration. You can enter the investment category code or click the list icon to select from a list of active categories in the system |
| Sales limit | SEC-imposed limit on investment sales under this state registration/term combination |
| Start date | Effective date of the term category under this state registration. This date must be equal to or after the registration start date, but no later than the registration end date |
| End date | Ending date of the term category under this state registration. This date must be equal to or before the registration end date, but no earlier than the registration start date |
| Max extension months | Maximum number of extension months for this term category under this state registration. Applicable in the event the investor takes no action at maturity, and the investment note automatically extends |
| Maturity notification | This indicates the type of maturity notification the investor should receive at maturity, if any. For information on configuring maturity notification codes, please reference this page: Investment Maturity Notify Code |
| SEC sales/count | Current dollar amount and number of investment sales applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC extensions/count | Current dollar amount and number of investment extensions applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC transfers/count | Current dollar amount and number of investment transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC total/count | Current dollar amount and number of investment sales, extensions, and transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| Non SEC sales/count | Current dollar amount and number of investment sales not applicable under an SEC limit for this state registration, where imposed (display only) |
Click Save to retain your changes.
New Type
To add a new investment type to an existing category beneath an existing state registration, you will first click the state, then the category that you wish to add a type to. Then, click in the Type column and click Add. The following screen will appear:
| Field | Description |
|---|---|
| Inv type | Enter the investment type code or click the list icon to select from a list of active investment types in the system |
| Current offering | Whether or not the investment is currently being offered by your organization. If selected, indicates that this is a current offering |
| SEC sales/count | Current dollar amount and number of investment sales applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC extensions/count | Current dollar amount and number of investment extensions applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC transfers/count | Current dollar amount and number of investment transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| SEC total/count | Current dollar amount and number of investment sales, extensions, and transfers applicable under an SEC limit for this state registration, where imposed (display only) |
| Redemption amount/count | Current dollar amount and number of redeemed investments for this state registration (display only) |
Click Save to retain your changes.
