Authority and Duties of the Distributor. The Distributor agrees that it shall, at all times when performing functions under this Agreement, be registered as a securities broker-dealer with the SEC and will maintain its membership with the NASD. Additionally, the Distributor shall be licensed or registered as a securities broker-dealer in the states requiring such a license or registration in connection with supervision and other services pertaining to its Contract sales activities. The Distributor shall distribute the Contracts and shall have all attendant duties, responsibilities and liabilities associated with that function for compliance, supervision and servicing purposes. The Distributor agrees to use its best efforts to find suitable purchasers for the Contracts.
Appears in 4 contracts
Samples: Master Sales and Supervisory Agreement (Southland Separate Account L1), Master Sales and Supervisory Agreement Life Insurance (Security Life Separate Account L1), Master Sales and Supervisory Agreement Life Insurance (Security Life Separate Account L1)
