Common use of Selection and Supervision of Representatives Clause in Contracts

Selection and Supervision of Representatives. The Distributor shall select and employ Representatives and shall have full responsibility for the training, supervision and control of such Representatives as contemplated by Section 15(b)(4)(E) of the 1934 Act and applicable NASD Rules. Such Representatives shall be subject to the control of the Distributor with respect to such persons' securities-regulated activities in connection with the Contracts (where such Contracts require such regulation). In the case of registered Contracts, the Distributor shall cause its Representatives to be NASD registered representatives, appropriately licensed with the applicable state and appointed by the relevant ING Insurers before such Representatives engage in the solicitation of applications for such registered Contracts and in the case of all registered and non-registered Contracts, shall cause such Representatives to limit solicitation of applications to jurisdictions where such Representatives are licensed and appointed and where the Contracts being solicited have been approved for sale. The ING Insurers and Broker-Dealer shall not have any responsibility for the supervision of any Representative or any other associated person or affiliate of the Distributor. If the act or omission of a Representative or any other associated person or affiliate of the Distributor is the proximate cause of any claim, damage or liability (including reasonable attorneys' fees) to an ING Insurer or ING Broker-Dealer, the Distributor shall be entirely responsible and liable therefor.

Appears in 4 contracts

Samples: Master Sales and Supervisory Agreement Life Insurance (Security Life Separate Account L1), Master Sales and Supervisory Agreement Life Insurance (Security Life Separate Account L1), Master Sales and Supervisory Agreement Life Insurance (Security Life Separate Account L1)

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