EXHIBIT 3
FORM OF PRINCIPAL UNDERWRITERS AGREEMENT
PRINCIPAL UNDERWRITER'S AGREEMENT
IT IS HEREBY AGREED by and between UNITED COMPANIES LIFE INSURANCE
COMPANY ("INSURANCE COMPANY") on behalf of UNITED COMPANIES SEPARATE ACCOUNT A
(the "Variable Account") and UNITED VARIABLE SERVICES, INC. ("PRINCIPAL
UNDERWRITER") as follows:
I
INSURANCE COMPANY proposes to issue and sell Individual and Group Fixed
and Variable Deferred Annuity Contracts and Certificates (the "Contracts") of
the Variable Account to the public through PRINCIPAL UNDERWRITER. The PRINCIPAL
UNDERWRITER agrees to provide sales service subject to the terms and conditions
hereof. The Contracts to be sold are more fully described in the registration
statement and prospectus hereinafter modified. Such Contracts will be issued by
INSURANCE COMPANY through the Variable Account.
II
INSURANCE COMPANY grants PRINCIPAL UNDERWRITER the exclusive right,
during the term of this Agreement, subject to registration requirements of the
Securities Act of 1933 and the Investment Company of Act of 1940 and the
provisions of the Securities Exchange Act of 1934, to be the distributor of the
Contracts issued through the Variable Account. PRINCIPAL UNDERWRITER will sell
the Contracts under such terms as set by INSURANCE COMPANY and will make such
sales to purchasers permitted to buy such Contracts as specified in the
prospectus.
III
PRINCIPAL UNDERWRITER shall be compensated for its distribution
services in such amount as to meet all of its obligations to selling
broker-dealer with respect to all Purchase Payments accepted by INSURANCE
COMPANY on the Contracts covered hereby.
IV
On behalf of the Variable Account, INSURANCE COMPANY shall furnish
PRINCIPAL UNDERWRITER with copies of all prospectuses, financial statements and
other documents which PRINCIPAL UNDERWRITER reasonably requests for use in
connection with distribution of the Contracts. INSURANCE COMPANY shall provide
to INSURANCE COMPANY such number of copies of the current effective prospectuses
as PRINCIPAL UNDERWRITER shall request.
V
PRINCIPAL UNDERWRITER is not authorized to give any information, or to
make any representations concerning the Contracts or the Variable Account of
INSURANCE COMPANY other than those contained in the current registration
statements or prospectuses relating to the Variable Account filed with the
Securities and Exchange Commission or such sales literature as may be authorized
by INSURANCE COMPANY.
VI
Both parties to this Agreement agree to keep the necessary records as
indicated by applicable state and federal law and to render the necessary
assistance to one another in the accurate and timely preparation of such
records.
VII
This Agreement shall be effective upon the execution hereof and will
remain in effect unless terminated as hereinafter provided. This Agreement shall
automatically be terminated in the event of its assignment by PRINCIPAL
UNDERWRITER. This Agreement may at any time be terminated by either party hereto
upon 60 days' written notice to the other party.
VIII
All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed to have been given on the date
of service if served personally on the party to whom notice is to be given, or
on the date of mailing if sent by First Class Mail, Registered or Certified,
postage prepaid and properly addressed.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be signed on their behalf by their respective officers thereunto duly
authorized.
EXECUTED this _________ day of ______________, 199______.
INSURANCE COMPANY
UNITED COMPANIES LIFE
INSURANCE COMPANY
BY:_________________________________
ATTEST:______________________
Secretary
PRINCIPAL UNDERWRITER
UNITED VARIABLE SERVICES, INC.
BY:________________________________
ATTEST:________________________
Secretary
