Sales Agreements. Distributor is hereby authorized to enter into separate written agreements, on such terms and conditions as Distributor may determine not inconsistent with this Agreement, with one or more organizations which agree to participate in the distribution of Contracts. Any such organization (hereafter "Broker") shall be both registered as a broker/dealer under the Securities Exchange Act and a member of NASD. Broker and its agents or representatives soliciting applications for Contracts shall be duly and appropriately licensed, registered or otherwise qualified for the sale of such Contracts under the insurance laws and any applicable blue-sky laws of each state or other jurisdiction in which the Company is licensed to sell the Contracts. Distributor shall have the responsibility for ensuring that Broker supervises its representatives. Any agreement as described in this Section shall provide that Broker shall assume any legal responsibilities of the Company for the acts, commissions or defalcations of such representatives insofar as they relate to the sale of the Contracts. Applications for Contracts solicited by such Broker through its agents or representatives shall be transmitted directly to the Company, and if received by Distributor, shall be forwarded to Company. All payments under the Contracts shall be made by check to Company and remitted promptly to Company.
Appears in 5 contracts
Samples: Distribution Agreement (Prudential Variable Contract Real Property Account), Distribution Agreement (Prudential Qualified Individual Variable Contract Account/Nj), Distribution Agreement (Prudential Individual Variable Contract Account)
