Purchaser Suitability. In the case of all Contracts, the Distributor shall be responsible for suitability and shall take reasonable steps to ensure that its Representatives make recommendations to applicants to purchase Contracts only if there are reasonable grounds to believe the purchase of each Contract is suitable for the applicant. The procedure shall include review of all proposals and applications for Contracts for suitability and completeness and correctness as to form as well as review and endorsement on an internal record of the Distributor of the transactions. Neither the Distributor nor its Representatives shall engage, directly or indirectly, in the twisting or other solicitation of the policyowners of the ING Insurers for the purpose of inducing the termination or replacement of policies or contracts issued by the ING Insurers unless such termination is in the best interests of the policyowner.
Purchaser Suitability. SELLING BROKER-DEALER shall be responsible for --------------------- suitability and shall take reasonable steps to ensure that its Representatives shall not make recommendations to applicants to purchase Contracts in the absence of reasonable grounds to believe the purchase of each Contract is suitable for the applicant. The procedure shall include review of all proposals and applications for Contracts for suitability and completeness and correctness as to form as well as review and endorsement on an internal record of SELLING BROKER-DEALER of the transactions. SELLING BROKER-DEALER shall promptly forward to the INSURER'S Customer Service Center all applications found suitable, together with any payments received with the applications, without deduction or reduction. The INSURER reserves the right to reject any Contract application and return any payment made in connection with an application which is rejected. Unless otherwise agreed, Contracts issued on applications accepted by the INSURER shall be forwarded to the Representative of SELLING BROKER-DEALER for delivery to the Contract owner.
Purchaser Suitability. Please indicate whichever of the following (if any) certifications apply to you by initialing the appropriate space:
(i) I certify that I am an "accredited investor" because I have an individual net worth/**/ (or joint net worth with my spouse) in excess of $1,000,000. Yes No ---- ----
(ii) I certify that I am "accredited investor" because I had an individual income (not including any amounts attributable to my spouse or to property owned by my spouse) of more than $200,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year. Yes No ---- ---- ----------------------- /**/ For purposes of this Questionnaire, a purchaser's "net worth" is equal to the excess of total assets at fair market value over total liabilities. Net worth may include the equity value (i.e., current appraised value less mortgage indebtedness) of real property owned by the Purchaser.
(iii) I certify that I am an "accredited investor" because I had a joint income with my spouse in excess of $300,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year. Yes No ---- ----
Purchaser Suitability. Please indicate whichever of the following (if any) certifications apply to you:
(i) I certify that I am an “accredited investor” because I have an individual net worth** (or joint net worth with my spouse) in excess of $1,000,000 or total corporate assets of in excess of $5,000,000.
(ii) I certify that I am an “accredited investor” because I had an individual income*** (not including any amounts attributable to my spouse or to property owned by my spouse) of more than $200,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year. (iii) I certify that I am an "accredited investor' because I had a joint income with my spouse in excess of $300,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year.
Purchaser Suitability. SELLING BROKER-DEALER shall be responsible for --------------------- suitability and shall take reasonable steps to ensure that its Representatives shall not make recommendations to applicants to purchase Contracts in the absence of reasonable grounds to believe the purchase of each Contract is suitable for the applicant. SELLING BROKER-DEALER shall promptly forward to the INSURER'S Customer Service Center all applications, together with any payments received with the applications, without deduction or reduction unless otherwise agreed in writing. The INSURER reserves the right to reject any Contract application and return any payment made in connection with an application which is rejected. Unless otherwise agreed, Contracts issued on applications accepted by the INSURER shall be forwarded to the Representative of SELLING BROKER-DEALER for delivery to the Contract owner.
Purchaser Suitability. The Purchaser represents and warrants that the Purchaser comes within one or more of the categories marked below, and that for any category marked the Purchaser has truthfully set forth the factual basis or reason the Investor comes within that category. ALL INFORMATION IN RESPONSE TO THIS SECTION WILL BE KEPT STRICTLY CONFIDENTIAL, EXCEPT FOR DISCLOSURES TO FEDERAL OR STATE REGULATORY AUTHORITIES. The Purchaser agrees to furnish any additional information that the Company deems necessary in order to verify the answers set forth below. The Purchaser is an individual (not a partnership, corporation, etc.) whose individual net worth, or joint net worth with the Purchaser’s spouse, presently exceeds $1,000,000, exclusive of the Purchaser’s primary residence. In the calculation of net worth (the amount of assets in excess of liabilities): ● The Purchaser may include equity in personal property and real estate, expressly excluding the Investor’s principal residence, cash, short-term investments, stocks and securities. Equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property. ● The amount of debt secured by the primary residence, up to its estimated fair market value, is not included as a liability, unless the person incurred debt within 60 days before buying securities in the unregistered offering for the purpose of buying those securities and not for buying the residence. In that situation, the amount of debt borrowed during that 60-day period must be included as a liability. ● Any debt secured by the primary residence in excess of the estimated fair market value of the home is included as a liability. The Purchaser is an individual (not a partnership, corporation, etc.) who had an individual income in excess of $200,000 in 2013 and 2014, or joint income with his/her spouse in excess of $300,000 in 2013 and 2014, and has a reasonable expectation of reaching that income level in 2015. Category III The Purchaser is a bank, savings and loan, insurance company; registered broker or dealer, registered investment company; registered business development company; licensed small business investment company; or employee benefit plan within the meaning of Title I of ERISA whose plan fiduciary is either a bank, savings and loan, insurance company or registered investment advisor or whose total assets exceed $5,000,000. __________________________________________________________________________...
Purchaser Suitability. Please indicate whichever of the following (if any) certifications apply to you by initialing the appropriate space:
Purchaser Suitability. The exemption from registration under the Securities Act pursuant to Regulation D promulgated thereunder permits sales by the issuer to “accredited investors.” Listed below are the categories of “accredited investors.” The undersigned meets one or more of the following “accredited” categories as indicated in the space provided below (check any and all appropriate categories):
(A) A natural person whose individual net worth, individually or together with his or her spouse, exceeds $1,000,000. For purposes of this Questionnaire, your “net worth” is equal to the excess of your total assets at fair market value over your total liabilities, excluding from this calculation the fair value of your primary residence and the amount of any indebtedness secured by your primary residence (up to the fair value of the residence). The amount of any indebtedness secured by your primary residence in excess of the fair value of the residence must be included in total liabilities.
(B) A natural person who had individual income (not including any amounts attributable to my spouse or to property owned by my spouse) exceeding $200,000 in each of the last two calendar years and I have a reasonable expectation of reaching the same income level in the current calendar year. For purposes of this Questionnaire, "income" means adjusted gross income, as reported for Federal income tax purposes, less any income attributable to a spouse or to property owned by a spouse, increased by the following amounts (but not including any amounts attributable to a spouse or to property owned by a spouse): (i) the amount of any tax-exempt interest income under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), received, (ii) the amount of losses claimed as a limited partner in a limited partnership as reported on Schedule E of Form 1040 and (iii) any deduction claimed for depletion under Section 611 et. seq. of the Code.
(C) Any executive officer or director of the Company.
(D) Any bank as defined in Section 3(a)(2) of the Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; an insurance company as defined in Section 2(18) of the Act; an investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of th...
Purchaser Suitability. Please indicate whichever of the following (if any) certifications apply to you:
(i) I certify that I am an “accredited investor” because I have an individual net worth** (or joint net worth with my spouse) in excess of $1,000,000 or total corporate assets of in excess of $5,000,000. Yes ______No ______
(ii) I certify that I am an “accredited investor” because I had an individual income*** (not including any amounts attributable to my spouse or to property owned by my spouse) of more than $200,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year. Yes ______No ______
(iii) I certify that I am an "accredited investor' because I had a joint income with my spouse in excess of $300,000 in each of the previous two calendar years and I reasonably expect to reach the same income level in the current year. Yes ______No ______
Purchaser Suitability. Please indicate whichever of the following (if any) certifications apply to you:
(a) I certify that I am an “accredited investor” because I have an individual net worth (or joint net worth with my spouse) in excess of $1,000,000. Yes____ No____ For purposes of the foregoing paragraph (a), the term “net worth” means the excess of total assets over total liabilities. For the purpose of determining a person's net worth, the principal residence owned by an individual should be valued at fair market value, including the cost of improvements, net of current encumbrances.
(b) I certify that I am an “accredited investor” because I had an individual income (not including any amounts attributable to my spouse or to property owned by my spouse) of more than $200,000 in each of the previous two (2) calendar years and I reasonably expect to reach the same income level in the current year. Yes____ No____ For purposes of the foregoing paragraph (b) and paragraph (c) which follows, “income” means actual economic income, which may differ from adjusted gross income for income tax purposes. Accordingly, the Purchaser should consider whether the Purchaser should add any or all of the following items to the Purchaser’s or the Purchaser’s and the Purchaser’s spouse’s adjusted gross income for income tax purposes in order to reflect more accurately the actual economic income: any tax-exempt income received, losses claimed as a limited partner in any limited partnership, deductions claimed for depletion, contributions to an XXX or Xxxxx retirement plan, and alimony payments.
(c) I certify that I am an “accredited investor” because I had a joint income with my spouse in excess of $300,000 in each of the previous two (2) calendar years and I reasonably expect to reach the same income level in the current year. Yes____ No____
(d) Have you had training or experience in financial and business matters? Yes ______ No ______ If yes, please give details: __________________________________________ ___________________________________________________________________________
