Payments to Broker-Dealers. PHLVIC shall serve as paying agent for amounts due broker-dealers for sales commissions and shall be responsible to pay such amounts to the persons entitled thereto as set forth in the applicable written agreements with such broker-dealers, subject to all applicable state insurance laws and regulations and all applicable federal and/or state securities laws and NASD rules. PEPCO shall reflect such amounts on its books and records (as created and maintained by PHLVIC) as required by Paragraph 1.04 hereto.
Appears in 7 contracts
Samples: Compliance Agreement (PHL Variable Accumulation Account), Master Service and Distribution Compliance Agreement (Phlvic Variable Universal Life Account), Master Service and Distribution Compliance Agreement (PHL Variable Accumulation Account)
