Common use of RECORDS AND CONFIRMATIONS Clause in Contracts

RECORDS AND CONFIRMATIONS. (a) The Distributor shall have the responsibility for maintaining the records of representatives licensed, registered and otherwise qualified to sell the Contracts. The Distributor shall maintain and preserve such other records as are required of it by applicable laws and regulations. The books, accounts and records of the Company, the Variable Account and the Distributor shall be maintained so as to clearly and accurately disclose the nature and details of the transactions. All records maintained by the Distributor in connection with the provisions of this Article I shall be the property of the Company and shall be returned to the Company upon termination of the provisions of this Article I, free from any claims or retention of rights by the Distributor. The Distributor shall keep confidential any information obtained pursuant to the provisions of this Article I and shall disclose such information, only if the Company has authorized such disclosure, or if such disclosure is expressly required by applicable federal or state regulatory authorities.