Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD and licensed as an insurance agent, if required, with authority to sell variable products or associated with an insurance agent so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed.
Appears in 4 contracts
Samples: Underwriting Agreement (Equitrust Life Variable Account), Underwriting Agreement (Equitrust Life Annuity Account Ii), Underwriting Agreement (Equitrust Life Variable Account Ii)
Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD and licensed as an insurance agent, if required, agent with authority to sell variable products or associated with an insurance agent so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer Company shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts (or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed).
Appears in 3 contracts
Samples: Underwriting Agreement (Continental Assurance Co Variable Life Separate Account), Underwriting Agreement (Continental Assurance Co Variable Life Separate Account), Underwriting Agreement (Valley Forge Life Insurance Co Variable Life Separate Accoun)
Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD FINRA and licensed as an insurance agent, if required, agency with authority to sell variable products or associated with an insurance agent agency so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD FINRA as representatives or principals of Selling Broker-Broker- Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer Distributor, or its designee, shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts (or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed).
Appears in 3 contracts
Samples: Amended and Restated Distribution Agreement (Midland National Life Separate Account C), Distribution Agreement (Midland National Life Insurance Co), Distribution Agreement (Midland National Life Separate Account C)
Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD and licensed as an insurance agent, if required, agent with authority to sell variable products or associated with an insurance agent so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer Distributor shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts (or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed).
Appears in 2 contracts
Samples: Distribution Agreement (Bankers Life Insurance Co of New York Separate Account I), Distribution Agreement (Il Annuity & Insurance Co Separate Account 1)
Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD and licensed as an insurance agent, if required, agent with authority to sell variable products or associated with an insurance agent so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer Distributor shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts Policies (or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed).
Appears in 1 contract
Samples: Distribution Agreement (National Variable Life Insurance Account)
Every Selling Broker. Dealer shall be both registered as a broker-dealer with the SEC and a member of the NASD and licensed as an insurance agent, if required, agent with authority to sell variable products or associated with an a insurance agent so licensed. Any individuals to be authorized to act on behalf of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer shall be duly registered with the NASD as representatives of Selling Broker-Dealer with authority to sell variable products, and shall be licensed as insurance agents with authority to sell variable products. Insurer Distributor shall verify that Selling Broker-Dealer and its Representatives are duly licensed under applicable state insurance law to sell the Contracts (or, if Broker-Dealer is not so licensed, that it is associated with an entity so licensed).
Appears in 1 contract
