Common use of Distributor Due Diligence Clause in Contracts

Distributor Due Diligence. Distributor shall not employ, or permit to be associated with it, in any material connection with the Contracts or the handling of Contract assets, any Representative who, to the knowledge of Distributor, is subject to statutory disqualification as set forth in Section 3(a)(39) of the 1934 Act and Article HI, Section 4 of the FINRA By-Laws. Distributor shall investigate the background of each registered broker- dealer that has been proposed to Distributor or NW as a prospective Selling Firm under a Selling Agreement. In the event Distributor determines that any such broker-dealer has a background that calls into question its ability to properly carry out its duties and responsibilities under a Selling Agreement, Distributor shall report such information to NW, at which time the parties shall jointly determine whether and when a Selling Agreement can be entered into with such broker-dealer.

Distributor Due Diligence. Distributor shall not employ, or permit to be associated with it, in any material connection with the Contracts or the handling of Contract assets, any Representative who, to the knowledge of Distributor, is subject to statutory disqualification as set forth in Section 3(a)(39) of the 1934 Act and Article HIIII, Section 4 of the FINRA By-Laws. Distributor shall investigate the background of each registered broker- broker-dealer that has been proposed to Distributor or NW as a prospective Selling Firm under a Selling Agreement. In the event Distributor determines that any such broker-dealer has a background that calls into question its ability to properly carry out its duties and responsibilities under a Selling Agreement, Distributor shall report such information to NW, at which time the parties shall jointly determine whether and when a Selling Agreement can be entered into with such broker-dealer.

Distributor Due Diligence. Distributor shall not employ, or permit to be associated with it, in any material connection with the Contracts or the handling of Contract assets, any Representative who, to the knowledge of Distributor, is subject to statutory disqualification as set forth in Section 3(a)(39) of the 1934 Act and Article HIIII, Section 4 of the FINRA By-Laws. Distributor shall investigate the background of each registered broker- broker-dealer that has been proposed to Distributor or NW JNLIC-NY as a prospective Selling Firm under a Selling Agreement. In the event Distributor determines that any such broker-dealer has a background that calls into question its ability to properly carry out its duties and responsibilities under a Selling Agreement, Distributor shall report such information to NWJNLIC-NY, at which time the parties Parties shall jointly determine whether and when a Selling Agreement can be entered into with such broker-dealer.

Distributor Due Diligence. Distributor shall not employ, or permit to be associated with it, in any material connection with the Contracts or the handling of Contract assets, any Representative who, to the knowledge of Distributor, is subject to statutory disqualification as set forth in Section 3(a)(39) of the 1934 Act and Article HIIII, Section 4 of the FINRA By-Laws. Distributor shall investigate the background of each registered broker- broker-dealer that has been proposed to Distributor or NW the Life Company as a prospective Selling Firm under a Selling Agreement. In the event Distributor determines that any such broker-dealer has a background that calls into question its ability to properly carry out its duties and responsibilities under a Selling Agreement, Distributor shall report such information to NWthe Life Company, at which time the parties Parties shall jointly determine whether and when a Selling Agreement can be entered into with such broker-dealer.