Navigation:  Loan Screens > Insurance Screen Group > Policy Detail Screen > Policy Information tab > Insurance Information field group > State Code

Entry: User, drop-down menu

F/M: Yes

Mnemonic: INSTCD

Screen: Loans > Insurance > Policy Detail > Policy Information tab

 

Use this field to indicate the state where the selected insurance policy has been issued.

 

Some insurance policy Types require a state code. See the Tax and Surcharge tab for more information.

 

Note: In Illinois, the insurance Finance Charge will accrue from the date opened instead of the first due date. The finance charge earnings are 1/30 of the monthly amortization for every day past the date opened. Once 30 days have been earned, the institution will continue to earn the same amount until the first due date.