COLLECTION OF PURCHASE PAYMENTS. Broker-Dealer agrees that all money or other consideration tendered with or in respect of any application for a Variable Contract or Traditional Life Insurance Policy and the Variable Contract or Traditional Life Insurance Policy when issued is the property of Insurer and shall be promptly remitted in full to Insurer without deduction or offset for any reason, including by way of example but not limitation, any deduction or offset for compensation claimed by Broker-Dealer.
Appears in 3 contracts
Samples: Selling Agreement (Reliastar Bankers Security Life Insurance Co), Selling Agreement (Reliastar Bankers Security Life Insurance Co), Selling Agreement (Reliastar Bankers Security Life Insurance Co)
COLLECTION OF PURCHASE PAYMENTS. Broker-Broker Dealer agrees that all money or other consideration tendered with or in respect of any application for a Variable Contract or Traditional Life Insurance Policy and the Variable Contract or Traditional Life Insurance Policy when issued is the property of Insurer and shall be promptly remitted in full to Insurer without deduction or offset for any reason, including by way of example but not limitation, any deduction or offset for compensation claimed by Broker-Broker Dealer.
Appears in 1 contract
Samples: Broker Dealer Agency Selling Agreement (Select Life Variable Account)
