PROPERTY OF INSURER. All money payable in connection with any of the ------------------- Contracts, whether as premium, purchase payment or otherwise and whether paid by or on behalf of any contract owner or anyone else having an interest in the Contracts, is the property of the INSURER and shall be transmitted immediately in accordance with the administrative procedures of the INSURER without any deduction or offset for any reason including, but not limited to, any deduction or offset for compensation claimed by SELLING BROKER-DEALER or the AGENCY.
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Samples: Broker Dealer Supervisory and Selling Agreement (Security Life Separate Account L1), Broker Dealer Supervisory and Selling Agreement (Security Life Separate Account L1), Broker Dealer Supervisory and Selling Agreement (Security Life Separate Account A1)
PROPERTY OF INSURER. All money payable in connection with any of the ------------------- Contracts, whether as premium, purchase payment or otherwise and whether paid by or on behalf of any contract owner or anyone else having an interest in the Contracts, is the property of the INSURER and shall be transmitted immediately in accordance with the administrative procedures of the INSURER without any deduction or offset for any reason including, but not limited to, any deduction or offset for compensation claimed by SELLING BROKER-DEALER or the AGENCY.
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