Common use of Representation and Service Clause in Contracts

Representation and Service. Broker agrees: a. that Broker will supervise the securities activities of Broker's with respect to the sale of the Policies and agrees to establish such rules and procedures as are necessary to insure compliance with applicable federal and state securities laws and to accept such supervision; b. to observe the rules, procedures and other directives established, and given by Underwriter relating to the sale of the Policies by Broker, as initially set forth in the Broker-Dealer Manual which Underwriter must provide, provided, however, that provision of the Broker-Dealer Manual shall not be deemed to imply a duty of supervision by Company or Underwriter over Broker, or to relieve Broker of it's duty to supervise its personnel. Broker will also comply with the rules and regulations of the Securities and Exchange Commission and the NASD relating to the sale and distribution of the Policies and will observe all applicable federal and state laws relating to the Policies; c. that all solicitations for Policies are accompanied by the appropriate current prospectuses for the Policies conforming to the requirements of the Securities Act of 1933; d. no representations concerning the Policies will be made except those contained in the appropriate current prospectuses and in information supplemental to the prospectuses, which may be supplied by Underwriter and designated for use with the public. In this regard, Broker further agrees to refrain from using advertising or sales literature concerning the Policies unless and until it has been approved by Underwriter; e. to become fully informed as to the provisions and benefits of each Policy offered by Company for which Broker solicits applications; f. to represent such Policies adequately and fairly to prospects; g. to provide all usual and customary service to policyholders and effort to maintain in force any business placed with Company; and h. to hold in a fiduciary capacity all premiums received with any applications for Policies solicited for Company.

Appears in 4 contracts

Samples: Selling Agreement (Bma Variable Life Account A), Group Selling Agreement (Conseco Variable Annuity Account H), Group Selling Agreement (Conseco Variable Insurace Co Separate Account I)

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Representation and Service. Broker agrees: a. that Broker will supervise the securities activities of Broker's with respect to the sale of the Policies and agrees to establish such rules and procedures as are necessary to insure compliance with applicable federal and state securities laws and to accept such supervision; ; b. to observe the rules, procedures and other directives established, and given by Underwriter relating to the sale of the Policies by Broker, as initially set forth in the Broker-Dealer Manual which Underwriter must provide, provided, however, that provision of the Broker-Dealer Manual shall not be deemed to imply a duty of supervision by Company or Underwriter over Broker, or to relieve Broker of it's duty to supervise its personnel. Broker will also comply with the rules and regulations of o the Securities and Exchange Commission and the NASD relating to the sale and distribution of the Policies and will observe all applicable federal and state laws relating to the Policies; c. that all solicitations for Policies are accompanied by the appropriate current prospectuses for the Policies conforming to the requirements of the Securities Act of 1933; ; d. no representations concerning the Policies will be made except those contained in the appropriate current prospectuses and in information supplemental to the prospectuses, which may be supplied by Underwriter and designated for use with the public. In this regard, Broker further agrees to refrain from using advertising or sales literature concerning the Policies unless and until it has been approved by Underwriter; ; e. to become fully informed as to the provisions and benefits of each Policy offered by Company for which Broker solicits applications; ; f. to represent such Policies adequately and fairly to prospects; ; g. to provide all usual and customary service to policyholders and effort to maintain in force any business placed with Company; and and h. to hold in a fiduciary capacity all premiums received with any applications for Policies solicited for Company.

Appears in 1 contract

Samples: Group Selling Agreement (Great American Reserve Variable Annuity Account F)

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Representation and Service. Broker agrees: a. that the Broker will supervise take full responsibility for training an supervision of all Representatives associated with Broker who are engaged directly or indirectly in the securities activities of Broker's with respect to the offer or sale of the Policies and all such persons shall be subject to the control of Broker with respect to such persons' activities in connection with the sale of Policies. Broker agrees to establish such rules and procedures as are necessary to insure compliance with applicable federal and state securities laws and to accept such supervision; b. to observe the rules, procedures and other directives established, and given by Underwriter relating to the sale of the Policies by Broker. However, as initially set forth in the Broker-Dealer Manual which Underwriter must provide, provided, however, that provision provisions of the Broker-Dealer Underwriter's Manual pertaining to underwriting practices, acceptance of risks, delivery of Policies, and all other areas of conduct of Conseco's business shall not be deemed to imply a duty of supervision by Company or Underwriter over Broker, or to relieve Broker of it's its duty to supervise its personnel. Broker will also comply with the rules and regulations of the Securities and Exchange Commission and the NASD NASD, (including its Rules of Fair Practice), relating to the sale and distribution of the Policies and will observe all applicable federal and state laws relating to the Policies, and the regulations of authorized regulatory agencies affecting the sale of insurance; c. that all solicitations for Policies are accompanied by the appropriate current prospectuses for the Policies conforming to the requirements of the Securities Act of 1933; d. that no representations concerning the Policies will be made except those contained in the appropriate current prospectuses and in information supplemental to the prospectuses, which may be supplied by Underwriter and designated for use with the public. In this regard, Broker further agrees not to refrain from using use advertising or sales literature concerning the Policies unless and until it has been approved by Underwriter; e. to become fully informed as to the provisions and benefits of each Policy offered by Company for which Broker solicits applications; f. to represent such Policies adequately and fairly to prospects; g. to provide all usual and customary service to policyholders and effort work to maintain in force any business placed with Company; and h. to hold in a fiduciary capacity all premiums received with any applications for Policies solicited for CompanyCompany and to promptly forward such premiums and applications to the Company using a reasonable standard of care. All such funds shall be segregated by Broker and held in trust, and shall not be used by Broker for any purpose.

Appears in 1 contract

Samples: Selling Agreement (Great American Reserve Insurance Co)

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