EX-1.(3)(b)
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
XXXXXXX NATIONAL LIFE DISTRIBUTORS, INC. MEMBER NASD
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ADDENDUM TO SELLING AGREEMENT
This Addendum, dated _______________ ___, _____, to the Selling Agreement, dated
___________________ ___, _____, is by and among
____________________________________________________________________ and
(Broker/Dealer)
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(Agency)
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(Agency)
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(Agency)
herinafter taken together and referred to as ("Broker/Dealer"), XXXXXXX NATIONAL
LIFE INSURANCE COMPANY OF NEW YORK ("Insurer"), and XXXXXXX NATIONAL LIFE
DISTRIBUTORS, INC. ("Distributor"). The purpose of this Addendum is to amend the
Selling Agreement among the parties to add the provisions set forth below. This
Addendum does not delete any provision of the Selling Agreement, except to the
extent of any contradiction. The paragraph numbering and headings of this
Addendum correspond to the Selling Agreement, and the provisions set forth under
each heading are added to the corresponding section of the Selling Agreement.
I. Registered Representatives
Continued solicitation for the Contracts shall be contingent upon the continuing
qualification of the Registered Representatives by possession of the required
licenses, appointments, and registrations. Broker/Dealer shall notify
Distributor immediately in writing if any Registered Representative appointed by
Insurer ceases to be a registered representative of Broker/Dealer or ceases to
be properly licensed in any state.
II. Sales Material
Upon receipt or approval of updated prospectuses and other material,
Broker/Dealer shall promptly discard or destroy all outdated copies of such
materials, except as needed to maintain proper records.
III. Prospectus Delivery
No sales solicitation, including the delivery of supplemental sales literature
or other such materials, shall occur, be delivered to or used with a prospective
purchaser unless accompanied or preceded by the appropriate then current
prospectus, the then current prospectus for the underlying funds funding the
Contract, and where required by state law, the then current statement of
additional information.
Broker/Dealer agrees to comply with the established rules and regulations of
Insurer now in effect or which may be established hereafter.
IV. Broker/Dealer Compliance
Broker/Dealer is specifically charged with the responsibility of supervising its
Registered Representatives' compliance with all applicable suitability
requirements under federal or state law or the regulations of the NASD.
Broker/Dealer is specifically charged with providing or arranging for adequate
training to ensure that Registered Representatives have thorough knowledge of
each Contract and the ability to make appropriate product presentations and
suitability determinations in compliance with applicable law. Broker/Dealer and
the Registered Representatives shall not recommend the purchase of a Contract to
a prospective purchaser unless they have reasonable grounds to believe that such
purchase is suitable for the prospective purchaser and is in accordance with
applicable regulations of any regulatory authority, including the SEC and the
NASD. While not limited to the following, a determination of suitability shall
be based on information concerning the prospective purchaser's insurance and
investment objectives, risk tolerance, need for liquidity, and financial and
insurance situation and needs. An appropriate principal of Broker/Dealer shall
approve each application as to suitability before forwarding such application to
Insurer.
Broker/Dealer shall notify Distributor and Insurer immediately in writing if
Broker/Dealer fails to comply with any of the laws and regulations applicable to
it.
IX. Cooperation
Broker/Dealer will promptly notify Distributor and Insurer of any complaint or
claim or any notice of any regulatory investigation or proceeding received by
Broker/Dealer or its affiliates relating to the Distributor, Insurer, any
associated person of Distributor or Insurer, or the Contracts, or any or
threatened or filed arbitration action or civil litigation arising out of
solicitation of the Contracts.
IN WITNESS WHEREOF, the parties have executed this Addendum as of the date set
forth above.
BROKER/DEALER:
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Name of Broker/Dealer Name of Life Agent or Agency
(If other than Broker/Dealer)
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Address Address
Signature: __________________________ Signature: __________________________
Print Name: _________________________ Print Name: _________________________
Title: ______________________________ Title: ______________________________
Date: ______________________________ Date: ______________________________
XXXXXXX NATIONAL LIFE XXXXXXX NATIONAL
INSURANCE COMPANY OF NEW YORK LIFE DISTRIBUTORS, INC.
1Corporate Way 000 Xxxxxxxx Xxxxxxxxx, Xxx. 0000
Xxxxxxx, XX 00000 Xxxxx Xxxxxx, XX 00000
Signature: __________________________ Signature: __________________________
Print Name: _________________________ Print Name: _________________________
Title: ______________________________ Title: ______________________________
Date: ______________________________ Date: ______________________________
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