Payments by Customers. All money payable in connection with the Products, whether as premium or otherwise, and whether paid by or on behalf of the owner of any Product or anyone else having an interest in the Products, is the exclusive property of the appropriate Insurance Company and shall be drawn payable to Massachusetts Mutual Life Insurance Company, MML Bay State Life Insurance Company, or C.M. Life Insurance Company, as appropriate. Such payments shall be promptly transmitted to the appropriate Insurance Company and shall not be commingled with Producers' personal funds. Producers are not authorized to deduct commissions, service fees, allowances or any other offset for compensation claimed by Producers from such payments. No cash payments shall be accepted by Producers in connection with the Products.
Appears in 5 contracts
Samples: Variable Products Dealer Agreement (Massachusetts Mutual Variable Life Separate Account I), Broker Dealer Selling Agreement (Massachusetts Mutual Variable Life Separate Account I), Broker Dealer Selling Agreement (MML Bay State Variable Life Separate Account I)
