Payments to Broker-Dealers. PEPCO shall serve as paying agent for amounts due broker-dealers for sales commissions. Phoenix shall forward to PEPCO any such amounts due broker-dealers from Phoenix and PEPCO 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 required by Paragraph D hereto.
Appears in 4 contracts
Samples: Master Service and Distribution Compliance Agreement (Phoenix Home Life Variable Universal Life Account /Ct/), Master Service and Distribution Compliance Agreement (Phoenix Home Life Variable Universal Life Account /Ct/), Master Service and Distribution Compliance Agreement (Phoenix Home Life Variable Accumulation Account)
