Disbursement Account. The Company will maintain and adequately fund a Disbursement Account ("Disbursement Account") for the payment by MGA of unearned premiums arising due to cancellation or endorsement of the Company's Policies produced by MGA. The Company will provide MGA revocable signature authority over this account.
Appears in 2 contracts
Sources: Managing General Agency and Claims Administration Agreement, Managing General Agency and Claims Administration Agreement (Federated National Holding Co)
Disbursement Account. The Company will maintain and adequately fund a Disbursement Account ("“Disbursement Account"”) for the payment by MGA of unearned premiums arising due to cancellation or endorsement of the Company's ’s Policies produced by MGA. The Company will provide and MGA revocable shall each have signature authority over this account.
Appears in 2 contracts
Sources: Managing General Agency and Claims Administration Agreement (Safepoint Holdings, Inc.), Managing General Agency Agreement (Homeowners Choice, Inc.)