Collection of Premiums. Given the scope of Distributor’s activities hereunder, it is not anticipated that Distributor would collect or receive premiums for the Contracts. However, to the extent that Distributor or a Distributor Representative receives a premium, such premium shall be remitted promptly, and in any event not later than two business days, in full, together with any applications, forms and any other required documentation, to the Contract Service Center. Checks or money orders in payment of premiums shall be drawn to the order of “Protective Life Insurance Company.” If any premium is held at any time by Distributor, Distributor shall hold such premium in a fiduciary capacity until remitted. Distributor acknowledges that all such premiums, whether by check, money order or wire, shall be the property of Insurer. Distributor acknowledges that Insurer shall have the unconditional right to reject, in whole or in part, any application or premium.
Collection of Premiums. POSP shall have no authority, without written permission of Company, to collect or provide receipt for premiums to customer and shall assist the client for compliance of section 64VB of the Insurance Xxx 0000.
Collection of Premiums. With regard to the collection of premiums, deposits and other remittances from policyholders (including payment of principal or interest on policy loans), the Provider shall act in a fiduciary capacity with respect to such payments, hold such payments for the benefit of the Recipient, and after the required processing of such payments, will immediately deposit such payments in one or more bank accounts established in the name of the Recipient and subject to the control of officers of the Recipient. Reports are reviewed on a daily basis to ensure that all payments are applied in a timely manner.
Collection of Premiums. Agent shall not have authority, without written permission of HEALTH FIRST, to (i) collect or provide receipt for premiums other than the first month’s premiums; (ii) deduct commissions or permissible fees; (iii) endorse checks payable to HEALTH FIRST; (iv) or perform any other act or duty not specifically authorized in this Agreement. Any and all funds received by Agent for the account of HEALTH FIRST shall at all times be segregated from the assets of the Agent and shall, within one (1) business day of receipt by Agent, be promptly deposited into a trust account designated by HEALTH FIRST.
Collection of Premiums. You may not collect any money on Our behalf except for the initial premium. You agree to be responsible for and to remit promptly, or within the time required by Your state, to Us, all monies collected and to hold all monies in trust for Us, not subject to any offset by You and not to be commingled with your personal funds.
Collection of Premiums. Agent shall have authority to collect premiums only if authorized in a separate addendum to this Agreement. With respect to any premiums Agent is authorized to collect, he or she shall assume full responsibility for collection and prompt payment of such premiums to Company without deduction or set-off unless otherwise specifically authorized in the premium collection addendum.
Collection of Premiums. The employer shall pay the premium mentioned in Section 3 to the Association's board as a lump sum. Those enterprises that are bound by the Agreement with NITO will be sent a payment demand by the Association’s board.
Collection of Premiums a. The Insurer shall collect the premiums for mine subsidence insurance, may retain the ceding commission in the amount set by the Commissioner, and shall remit the remainder of the premiums to the Commissioner for deposit in the Fund.
b. The Insurer, in consideration of the ceding commission, shall undertake the adjustment of losses and the payment of taxes and absorb all other expenses necessarily incurred by the Insurer in the sale of policies and the administration of the mine subsidence insurance program under Indiana Code Chapter 27-7-9.
c. The ceding commission set by the Commissioner is thirty percent (30%).
Collection of Premiums. Following the Effective Date, subject to Section 3.3(a), all Premiums collected by the Reinsurer or such Affiliate may be retained by the Reinsurer and all Premiums collected by the Company, net of the applicable Ceding Commission, shall be deposited directly into an account (or accounts) designated by, and issued in the name of, the Reinsurer from which accounts(s) funds shall be reported, monthly, to Company.
Collection of Premiums. Following the Closing Date and subject to Section 3.3(a), all Premiums collected by the Reinsurer or any of its Affiliates shall be retained by the Reinsurer and all Premiums collected by a Company, net of the applicable Ceding Commission, shall be deposited directly into an account (or accounts) designated by, and issued in the name of, the Reinsurer. Any Premiums collected by a Company pursuant to this Section 3.5 shall, net of any Ceding Commission, be the sole and exclusive property of the Reinsurer and, notwithstanding Section 3.2, shall not be subject to setoff in any form by a Company.
