Common use of Responsibility for Distribution of Registered Annuity Products Clause in Contracts

Responsibility for Distribution of Registered Annuity Products. CBSI shall be responsible for entering into Selling Agreements with independent Broker Dealers for distribution of the Registered Annuity Products. In this capacity CBSI shall be responsible for determining if the independent broker dealers are interested in distributing the products, are qualified to distribute the products, are financially responsible and have adequate supervisory systems to manage appropriate sales of the products. The independent Broker Dealers contracted by CBSI shall be responsible for reviewing the suitability of sales by their representatives, training their representatives and seeing that all sales are made in compliance with applicable laws and regulations. CBSI shall also be allowed to engage in retail sales of the products and shall be responsible for its registered representatives activities when they are engaged in retail sales activities.